The ship tycoon, the con men and a €100m scam

Posted on 28 June 2018. Source: Financial Times

The ship tycoon, the con men and a €100m scam

The Financial Times has published an investigative report into the largest private prosecution known in the UK, in which Mishcon de Reya acted for Allseas and shipping tycoon Edward Heerema.

Heerema, the president of Allseas, was defrauded during the building of Pioneering Spirit in 2011, the largest ship in the world by volume and as long as the Empire State building is high. The company was lured by a group of individuals to hand over €100m that he had raised for the ship in an investment scheme. In the end, €12m was stolen.

Mishcon de Reya Partner Mike Stubbs and Head of Mishcon de Reya's White Collar Crime & Investigations Group Alison Levitt QC acted on the case and feature in the report.

Mike, who describes himself as a problem solver, said, “My job is to find a way through the maze [and] if money has been nicked, or hidden, or buried, you have to get out the shovel.”

Alison said, “I am a criminal practitioner and my clients are people who believe they have suffered a grave injustice.”

Read the full article here (subscription only).

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