Advertisement

January 2011: Baines' advocate convicted

by isleofman.com 25th December 2011

TREVOR Baines' former advocate was convicted of money laundering in January.

 

Jenny Holt was convicted in relation to £400,000 which was stolen by Trevor Baines and his wife Wendy from Hermitage Securities Limited in order to fund their legal fees.


Miss Holt was also convicted of creating false records.


The charges stemmed from when Miss Holt, who denied the charges, was part of the defence team for the Baines'.

 

Detective Sergeant Lynne Skelly of the Isle of Man Police Financial Crime Unit said: "It is one of the aims of the Financial Crime Unit to ensure the Island is a safe place to do business.


"The legal profession and trustees are key players in ensuring that the Isle of Man has a positive financial reputation.

 

"This conviction sends out a strong message to the international financial community that the Island will not be seen as a safe haven for money laundering. I am pleased that the case has resulted in a successful conclusion."


Mr Baines, after pleading guilty, was convicted of five counts of theft in relation to £770,000 stolen from Hermitage Securities Limited and 43,383.95 Euros from Mr Henry Charles Taylor.

 

His wife was also convicted after pleading guilty to the theft of £400,000 from Hermitage Securities Limited.


DS Skelly continued: ''This was a serious breach of trust by Mr and Mrs Baines who stole considerable funds from client bank accounts under their control.


"Trustees are key players in ensuring that the Isle of Man has a positive financial reputation. This conviction sends out a strong message to the international financial community that the Island will not tolerate such criminal conduct."

 

Update: In February Jenny Holt was given a 12 month sentence suspended for two years for money laundering and falsifying documents.

 

This story is part of isleofman.com's Review of the Year 2011.

Posted by isleofman.com
Sunday 25th, December 2011 12:00pm.

Popular Articles

Upcoming Events

Nobles Parkrun

A free, fun, and friendly weekly 5k community event in Nobles Park.  Walk, jog, run, volunteer or spectate...
7 Jun

Bridge Club

Monday is Bridge Day at the Onchan Pensioner's Social Club   We have two bridge clubs that meet on a weekly...
9 Jun
View More
Advertisement

You also might be interested in

Stephen Savage joins Quinn Legal’s Corporate and Commercial legal team.

Business

When the clocks sprung forward we lost another precious hour of sleep

Health & Wellness

The GFoGE guide to obstacle races & why should you do one.

Sports & Leisure

Why not take a "Wallaby" walk in the Curragh?

Nature & Wildlife

Hop-tu-Naa is an ancient festival celebrated on the Isle of Man

Visitor Guide

The Isle of Man hosts many traditional ceremonies throughout the year

Visitor Guide