Guinness Four 'robbed of their right to silence'

The Court of Appeal was taken back to a different era when the four defendants in the Guinness trial launched a fresh attempt to clear their names.

Eleven years after the original trial of Ernest Saunders, Sir Jack Lyons, Anthony Parnes and Gerald Ronson, their lawyer Michael Beloff QC argued that the convictions were unsafe because his clients were denied a fair trial.

Their convictions for illegally rigging the stock market before Guinness's £2.6bn takeover of Distillers in 1986 sent shock waves through the City and marked a watershed in attitudes. Still a high point for the Serious Fraud Office, which brought the prosecution, the case laid bare the culture among financiers for aggressive dealing and spectacular money-making. The trial was synonymous with Thatcherism – not least because one defendant, Mr Lyons, was close to the former prime minister.

Mr Beloff said the four men would be raising several issues in the appeal. These would include the way in which they had been robbed of their right to silence because evidence they were compelled to give to Department of Trade and Industry inspectors was used against them at the trial.

A House of Lords ruling last week that the Human Rights Act could not be applied retrospectively to appeals appeared to have dealt a blow to their appeal chances but, said Mr Beloff, the Lords' decision "does not kill stone dead each and every argument". The appeal judges could still find on grounds of general fairness that the defendants had the right not to be forced to incriminate themselves.

The court will also hear new evidence that police were aware that the foreman of the jury was possibly open to accepting a bribe in return for a "not guilty" verdict. Instead of telling the defence and judge so the trial could be halted and a retrial ordered, the police chose to keep the "jury nobbling" claim secret.

The police heard of the plot to rig the trial from an informant who received a tip from a criminal friend who drank with the foreman. The respondents will contend that the plan never became reality and, besides, the foreman strenuously denies ever making such a suggestion.

During the next three weeks, the judges will hear evidence from the police officers, the foreman and others who were involved in the trial.

Mr Beloff will also maintain that the trial did not pay enough attention to acceptable City behaviour at the time. He will say that information showing that their activities were not unique was kept from the jury.

Much hinges on the appeal, not just the vindication of the four. If successful, they will strike a blow at the SFO and again raise questions about the conduct of long, complex fraud cases – their trial lasted six months. It will also lead to claims of compensation running into many millions of pounds. Mr Ronson and Mr Lyons will demand the return of fines of £5m and £3m. All four ran up substantial bills for costs. Then there is the damage caused to their reputations and careers by the convictions. Mr Lyons suffered the humiliation of being stripped of his knighthood.

In the years since the original trial, the four have enjoyed mixed success. Mr Saunders, who was jailed for five years but had his sentence halved after the Court of Appeal accepted expert advice he was suffering from early senile dementia, works as a company consultant and has assisted, among others, Carphone Warehouse. Mr Ronson is virtually rehabilitated in the City and property community he worked in before conviction, embarking on huge construction projects.

Mr Lyons, 84, lived in Florida for a time and is now in poor health. Mr Parnes, whose nickname was "the Animal" on account of his combative share-trading style, has never resumed his former career but amassed considerable wealth from his time in the City.

The accused then and now

Ernest Saunders

Five years in jail for false accounting, theft and conspiracy. Sentence halved due to pre-senile dementia. Now a company consultant

Sir Jack Lyons

Fined £3m and stripped of his knighthood. The financier, 84, has since had three heart attacks. Undergoing cancer therapy

Anthony Parnes

Given two-and-a-half years for false accounting and theft. Term reduced to 21 months on appeal. No longer active in the City

Gerald Ronson

Given 12 months in jail and a £5m fine for his part in the illegal share support operation. Has resumed his business career

News
people
News
people And here is why...
News
peopleStella McCartney apologises over controversial Instagram picture
Life and Style
Laid bare: the Good2Go app ensures people have a chance to make their intentions clear about having sex
techCould Good2Go end disputes about sexual consent - without being a passion-killer?
News
ebooksAn unforgettable anthology of contemporary reportage
Arts and Entertainment
Richard Burr remains the baker to beat on the Great British Bake Off
tvRichard remains the baker to beat as Chetna begins to flake
News
i100
Sport
footballArsenal 4 Galatasaray 1: Wenger celebrates 18th anniversary in style
Arts and Entertainment
Amazon has added a cautionary warning to Tom and Jerry cartoons on its streaming service
tv
News
people
News
The village was originally named Llansanffraid-ym-Mechain after the Celtic female Saint Brigit, but the name was changed 150 years ago to Llansantffraid – a decision which suggests the incorrect gender of the saint
newsWelsh town changes its name, but can you spot the difference?
Arts and Entertainment
Kristen Scott Thomas in Electra at the Old Vic
theatreReview: Kristin Scott Thomas is magnificent in a five-star performance of ‘Electra’
News
Destructive discourse: Jewish boys look at anti-Semitic graffiti sprayed on to the walls of the synagogue in March 2006, near Tel Aviv
peopleAt the start of Yom Kippur and with anti-Semitism flourishing, one Jew can no longer ignore his identity
Life and Style
Couples who boast about their relationship have been condemned as the most annoying Facebook users
tech
Arts and Entertainment
Hayley Williams performs with Paramore in New York
musicParamore singer says 'Steal Your Girl' is itself stolen from a New Found Glory hit
News
i100
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Day In a Page

Italian couples fake UK divorce scam on an ‘industrial scale’

Welcome to Maidenhead, the divorce capital of... Italy

A look at the the legal tourists who exploited our liberal dissolution rules
Time to stop running: At the start of Yom Kippur and with anti-Semitism flourishing, one Jew can no longer ignore his identity

Time to stop running

At the start of Yom Kippur and with anti-Semitism flourishing, one Jew can no longer ignore his identity
Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

Tom and Jerry cartoons now carry a 'racial prejudice' warning on Amazon

The vintage series has often been criticised for racial stereotyping
An app for the amorous: Could Good2Go end disputes about sexual consent - without being a passion-killer?

An app for the amorous

Could Good2Go end disputes about sexual consent - without being a passion-killer?
Llansanffraid is now Llansantffraid. Welsh town changes its name, but can you spot the difference?

Llansanffraid is now Llansantffraid

Welsh town changes its name, but can you spot the difference?
Charlotte Riley: At the peak of her powers

Charlotte Riley: At the peak of her powers

After a few early missteps with Chekhov, her acting career has taken her to Hollywood. Next up is a role in the BBC’s gangster drama ‘Peaky Blinders’
She's having a laugh: Britain's female comedians have never had it so good

She's having a laugh

Britain's female comedians have never had it so good, says stand-up Natalie Haynes
Sistine Chapel to ‘sing’ with new LED lights designed to bring Michelangelo’s masterpiece out of the shadows

Let there be light

Sistine Chapel to ‘sing’ with new LEDs designed to bring Michelangelo’s masterpiece out of the shadows
Great British Bake Off, semi-final, review: Richard remains the baker to beat

Tensions rise in Bake Off's pastry week

Richard remains the baker to beat as Chetna begins to flake
Paris Fashion Week, spring/summer 2015: Time travel fashion at Louis Vuitton in Paris

A look to the future

It's time travel fashion at Louis Vuitton in Paris
The 10 best bedspreads

The 10 best bedspreads

Before you up the tog count on your duvet, add an extra layer and a room-changing piece to your bed this autumn
Arsenal vs Galatasaray: Five things we learnt from the Emirates

Arsenal vs Galatasaray

Five things we learnt from the Gunners' Champions League victory at the Emirates
Stuart Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

Lancaster’s long-term deal makes sense – a rarity for a decision taken by the RFU

This deal gives England a head-start to prepare for 2019 World Cup, says Chris Hewett
Ebola outbreak: The children orphaned by the virus – then rejected by surviving relatives over fear of infection

The children orphaned by Ebola...

... then rejected by surviving relatives over fear of infection
Pride: Are censors pandering to homophobia?

Are censors pandering to homophobia?

US film censors have ruled 'Pride' unfit for under-16s, though it contains no sex or violence