The Independent - London, April 16th, 1994
RECORD fines have been imposed by the Securities and Futures Authority on two former stockbrokers for illegal share deals and other activities while working for the Kuwait Investment Office. Anthony O'Sullivan and Lucas Van der Ploeg were paid about pounds 1m each to liquidate KIO assets after several governments had frozen Iraqi and Kuwaiti assets following the outbreak of the 1990 Gulf conflict. They also worked with a former KIO European investment manager to skim off pounds 2m in commissions on share deals and divided the proceeds. The SFA concluded its inquiry last year but a formal an...
HighBeam Research, Free Preview: 'Brokers fined for illegal KIO deals'... Full Membership required for unlimited access. Free 7-day trial.
Subscribers: HighBeam content is only available to HighBeam subscribers. Click the link above for more information.
