Risk Audit - Training and Recruitment
Wednesday, 01 February 2012

FSA Banks JC Flowers Executive

The Financial Services Authority has banned Ravi Sinha, the former head of JC Flowers’ UK business from operating in the financial services sector. He has also been fined £ 2.87 million.

He was accused of borrowing c. £ 1.5 million from one of JC Flowers’ European portfolio companies and then repaying the loan with a fraudulently billed advisory invoice.

Mr. Sinha argues that the loan was “eclipsed by future bonuses he forfeited when he was fired!

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