Two firm directors who lost investors £60m in a scheme the Serious Fraud Office (SFO) branded "an elaborate scam" have been sentenced to a total of 12 years in prison.
Richard Aston Clay was sentenced to ten years and ten months, while Kathryn Clark was given a two-year suspended sentence. Michael Cotter of law firm Regulatory Legal, which was acting on behalf of Arck investors, said the sentencing today is "of some small comfort to the hundreds of investors who have had their finances damaged by the actions of Clay and Clark". "I give credit to the Serious Fraud Office and the relevant authorities in securing the sentences and we continue to work with those affected to restore their finances as best as we are able," he said. The sentencing of Cl...
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