Ex-JC Flowers Exec Barred From Biz, Fined $4.5M For Scam

Law360, New York (January 31, 2012, 1:28 PM EST) -- The U.K.’s financial services watchdog has banned former head of private equity firm JC Flowers & Co. LLC’s London office from the industry and fined the one-time dealmaker £2.9 million ($4.5 million) for defrauding a portfolio company, the regulator announced Tuesday.

The Financial Services Authority threw the book at Ravi Shankar Sinha for swindling roughly £1.4 million from one of JC Flowers’ portfolio companies in bogus invoices. Sinha resorted to fraud to cover losses from the financial crisis in 2009, according to the FSA.

“Sinha exploited...
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