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Thursday, 14 July 2011

BWTC and IWC: Craven and Hayble jailed

Today at St Albans Crown Court Paul Craven was sentenced to six years for fraudulent trading in connection with the Bordeaux Wine Trading Company Ltd. Oseghale Hayble was sentenced to five years for the same offence for International Wine Commodities.

The maximum sentence is seven years for a single offence.

I understand that Craven wrote to His Honour Judge John Plumstead apologising for his stupidity but the Judge said it wasn't a question of Craven's stupidity rather that he was dishonest. Craven was principally to blame for setting up the fraud. The judge said that the jury's verdict was absolutely correct and that Craven had wasted people's time and money with his highly unlikely defence through two trials.

The judge would have likely to give Craven a longer sentence but his hands were tied with seven years being the maximum.

There will now be proceedings to confiscate the fraudsters' assets.

The investigation was carried out by the Economic Crime Unit of Hertfordshire Police.


  1. Great news for all us investors.
    especially for all us involved in starting the case off.
    well done to Jim for helping, keep up the good work.

  2. Thanks. Delighted that Hertfordshire Police pursued this. Should give encouragement to the Met and City Police to see their investigations through.

  3. I don't know whether the confiscation proceedings will see any of the looted funds returned to the investors.

    Unfortunately there are still companies about ready to repeat this scam.

  4. What happened to Niklaus Cashman who was also on trial?

    Was he found to be innocent?

  5. Anon. As far as I know Cashman was acquitted in December. Only Craven and Hayble were involved in the retrial with the case against Hayble stopped during the course of the trial when he became ill.

  6. Oseghale Hayble was found to be Innocent with regard to BWTC as there was no evidence against him (as stated by prosecution on Thursday). This was discussed and agreed during the sentencing on Thursday.
    Furthermore, he was sentenced on Conspiracy to commit fraud and not for Fraudulent trading as posted by you.

  7. Anon. Thank you for the precision. However, had Hayble not been taken ill during the trial I doubt if the prosecution would have stated 'there was no evidence'.

    The fact remains that Hayble has been jailed for five years for fraud – involved in two companies that took some £2 million for investors and bought just one case of wine.

  8. It is your opinion to which you are of course entitled to. It is your blog after all .
    However, had Hayble not been taken ill because of his life threatening condition during the trial and if he was able to give his evidence I am sure that we would have a very different view now.
    It is not unusual for people to be convicted for a crime they did not commit. And in this case one day the truth will come out.

  9. Anon. Of course the jury might have found Hayble not guilty. Given Craven's spending I find it difficult to believe that Hayble wasn't aware that the wine wasn't being bought. Naturally I agree that Craven's stories of wads of cash in brown envelopes was nonsense. I also accept that the judge viewed Craven crime as more serious deserving a long sentence.

  10. Oseghale Hayble was charmed into going into business with Craven and in my opinion was a victim of circumstances beyond his control as I know for a fact that he protested to Craven on virtually a daily basis about the way the company was being run (and the money being spent!)

    In fact I overheard Craven shout at Hayble in one such "conversation" "This is MY company I spend all the money how I want!!!!"

    I'm not so sure about Haybles involvement in IWC, but regardless I hope he both gets through his time and uses the lessons learnt in the best way possible.

  11. Having met Craven , Hayble and Moruthoane my opinion of them is as follows
    > Craven is a typical cocky Wideboy who lacks the brains to be the mastermind of any fraud but obviously was shown how to operate!!And knew exactly what he was involved in but cudnt care less as long as he got money
    > Hayble is a more humble character who I feel is easily led and as someone has said before probably got talked into all this but again I agree must of know what was going on and was happy to comply as the money came in
    > Moruthoane in my eyes is quite clearly the brains behind all these bogus operations and only interest is creating scams to make as much money as possible!after researching I saw he has been doing this sort of think for years as i read someone inquring weather to trust him in your blog posted 2002!!and can 100% bet as soon as he is released will no doubt continue his operations and I only hope that the police keep a firm eye on him!otherwise alot more people will be stung in the future