Ethics and governance in the European Financial centers

William Fogwell and his daughter Shelley Fogwell were were condemned last Tuesday : the Court found both of them guilty of the charges against them in relation to the collapse of Hobbs Melville in 2000 and sentenced to 5 years prison. They were also fined €500,000.

Guillaume Losada, Shelley Fogwell's former boyfriend, and Jean-Christophe Moroni, a broker, were as well found guilty : the Court sentenced Losada to 18 months prison plus fined €50,000 ; the Court sentenced Losada to 1 year prison plus fined €53,000.

This is the most important scandal in Monaco with suspicion on the authorities stated in the framework of the appeal.

See article (french)