Ex-Imperial Consolidated officer sued for $120 m

A British national who was arrested on Christmas Eve as part of an investment fraud investigation has now had a civil lawsuit filed against him in which $120 million is being sought on behalf of alleged victims.
The action was filed at the U. K. High Court on January 5, 2005 by the liquidators/administrators of five corporate members of the Imperial Consolidated Group, which operated in England and offshore centers before collapsing in 2002 owing approximately US$400 million.