The Serious Fraud Office (SFO) suffered a fresh blow to its credibility yesterday after Lorraine Jones, one of the two main protagonists in the Versailles trial, was acquitted of fraud charges.
The Crown's decision to drop its prosecution ended a four-year ordeal for Ms Jones who, along with Carl Cushnie, Versailles' founder and chief executive, had been accused of defrauding the collapsed trade finance company's shareholders and creditors. Both denied the charge.
Anthony Evans QC, for the prosecution, told the jury at Southwark Crown Court that he would offer no further evidence against Ms Jones, who had been accused of two charges of conspiracy to defraud.
"We invite your lordship to direct the jury appropriately to return a verdict of not guilty on both counts," Mr Evans told Justice Rupert Jackson, adding that the decision was taken after "constantly" reviewing the evidence against Ms Jones.
