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Appeal court trims broker’s fraud payout over client money hole

The revised figures cut both ways. The Court of Appeal substituted £3,668,135 for the £7,114,167 the trial court had ordered specifically for trading losses. But it also removed a £2,847,038 credit the broker had been required to give for later selling parts of its business. The net effect was a £598,994 reduction, leaving the broker’s total award at £5,525,436.02. The separate damages awarded to the buyer were not affected, and the fraud findings themselves stand. 

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