Three former directors were found guilty on 22 April 2008 of conspiracy to defraud in relation to their running of RBG Resources plc (“RBG”). The firm was at the centre of a worldwide metal trading empire. The fraud was perpetrated against several banks, who gave loans to RBG relying on evidence of company transactions which were false. The value of the fraudulent activity exceeded £300 million. The lead defendant was sentenced to 9 years in custody. The conviction led to the institution of confiscation proceedings.