18 Feb FCA drops charges against Globo plc executives
The FCA has announced the withdrawal of European arrest warrants for KP and DG, respectively the former chief executive and chief financial officer of Globo plc, a formerly AIM-listed company.
In 2019 the FCA sought to extradite KP and DG from Greece to face criminal charges of fraud and making misleading statements about the value of Globo’s shares prior to its collapse in November 2015. The Hellenic Court of Appeal denied the UK’s extradition requests for both defendants on territoriality grounds and opened domestic criminal proceedings in which the defendants were acquitted.
In parallel civil proceedings in the UK Mrs Justice Joanna Smith DBE issued a judgment on 4.11.2022 rejecting the FCA’s claim that the Greek authorities had consented to the collateral use of MLA material.
Having considered all of the relevant factors, including the available admissible evidence the FCA determined that it is no longer in the public interest for the prosecution to continue.
Ilias Anagnostopoulos and Jerina Zapanti of Anagnostopoulos, Athens, and Hannah Raphael, formerly at BCL, London, advised and represented KP throughout the proceedings.