The misappropriation and tax fraud charges against them were linked to a 2008 cable factory purchase.
British businessman Doug Barrowman has been cleared of any wrongdoing following his Spanish embezzlement and tax fraud trial.
Barrowman was one of the two largest shareholders in their now-defunct company B3 Cable Solutions Spain which bought the plant. The prosecution case focused on a July 2008 EUROS 6.3 million million payment by the cable firm to a “linked” UK company called Axis Ventura which Barrowman founded and several of the defendants were directors of.
Many of the defendants used their time on the stand to refute public prosecutor claims’ Axis representatives did no work on the deal and the invoice was a fabrication to illegitimately extract money from the cable firm. The other men tried alongside Glasgow-born Barrowman were Paul Ruocco, Mark Price Williams, David Powell, Timothy Eve, Michael Walton and Stephen Ellis.
Top news stories today They added: “The prosecution accusation was based specifically on the non-existence of services. The possibility of the criminal consideration of an excessive or disproportionate payment hasn’t been touched on.” The controversial couple had POUNDS 75 million of assets frozen or restrained under a court order obtained by the CPS as part of the National Crime Agency’s probe into PPE Medpro, a company led by Barrowman. The Spanish court case which ended at the start of last month marked a new chapter in a long-running saga which initially saw Barrowman and his business partners cleared of blame over the October 2012 bankruptcy of the cable factory they bought in May 2008 with bank finance.
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