Where, in relation to conspiracy to defraud share purchasers arising out of allegedly false and misleading listing particulars as to share issues in a mining company, the Crown's primary case as to dishonesty was based upon allegedly false and misleading mining reports, it was nevertheless entitled in addition to rely upon: (i) the defendants' failure to disclose the nature and extent of the benefits to be derived by them from the share issues; and (ii) their failure to comply with s.146 Financial Services Act 1986: the defendants were properly sentenced under s.47 of the Act as opposed to s.200.

CA (Swinton Thomas LJ, Owen J, Latham J)

16/07/1999