Operation Picasso – Defendants acquitted in multi-million pound boiler room fraud

The jury unanimously acquitted three defendants represented by members of Chambers in a multi-million pound “boiler room” fraud case following a 9 week trial at Bristol Crown Court.

Simon Baker and Chris Saad represented RS, the main defendant, who was the director of a carbon credit brokerage selling millions of pounds of VER and CER carbon credits to private investors. RS was acquitted of conspiracy to defraud.

Anthony Abell and Vedrana Pehar represented MK, Allan Compton and Tom Daniel represented MF, who were both alleged to have set up a trade execution company supplying carbon credits to the brokerage and who were both acquitted of conspiracy to launder the proceeds of the fraud.

Simon and Chris were instructed by James Devane at HKH Kenwright & Cox, and Anthony, Vedrana, Allan and Tom were instructed by Michael Rees of Jerman Samuels & Pearson.