UK Investment Officer Ordered to Pay Damages to Former Employer

Last week, a London-based Sovereign Wealth Fund management company heard the results of a court case against its former chief executive officer over allegations of corruption and fraud.

Consequently, the investment company is looking to recover damages in the range of GDP £20-$25 million, according to a statement issued by a spokesperson for the company on Wednesday. LAP is the name of the company and has been trading since 2006 with approximately USD $5 billion held in a number of African companies.