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David and Antoinette Bolden to be sentenced August 19

Financiers David and Antoinette Bolden will be sentenced on August 19 for misleading the Bermuda Monetary Authority [BMA].

The husband and wife were convicted of the offence by a jury on June 14 after a five week trial at Supreme Court.

They ran the Emerald Financial Group and Emerald Capital International, which have since folded. The couple were convicted of misleading the BMA over the financial position of the Emerald Financial Group, which was licensed by the regulator.

The Boldens made what the jury deemed to be false statements between September 28 and October 28 2008, in answer to BMA inquiries about the Emerald Group’s liquidity and capitalisation.

The Official Receiver was called in summer 2009 after the BMA took enforcement action to begin winding up the Emerald group of companies. The Boldens were cleared of 18 theft and money laundering charges relating to allegations they stole from Emerald Capital International, an exempt company.

The sentencing date was fixed by Chief Justice Richard Ground at the monthly Supreme Court arraignments session yesterday.

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Published August 02, 2011 at 2:00 am (Updated August 02, 2011 at 9:11 am)

David and Antoinette Bolden to be sentenced August 19

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