The court case in the USA relating to collapsed broker Beaufort Securities has seen one of the defendants plead guilty to a money laundering conspiracy.
Arvinsingh Vinesh Canaye, a Mauritian citizen and general manager of Beaufort Management, an offshore company connected with Beaufort Securities, has pleaded guilty according to The Times.
Canaye was one of six defendants named in a US indictment issued in March that came on the same day as the Financial Conduct Authority ordered Beaufort to cease all regulatory activity as the company was declared insolvent.
Beaufort Securities has been in the spotlight since December 2016 when the FCA restricted its discretionary powers.
The paper also reported that a second de…
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