Fund managers face £46m fraud charges

Three fund managers accused of involvement in a £46m fraudulent scheme involving fees from Gaddafi’s Libyan regime appeared in court today (mon). Frederic Marino, 53, faces fraud charges after he set up an asset management firm set up to invest in a Libyan sovereign wealth fund shortly before the Arab spring in 2009. Marino stands accused alongside his fellow former directors at Knightsbridge-based FM Capital Partners, Aurelien Bessot and amateur race car driver Yoshiki Ohmura, both 44. The trio appeared…