Ex-BGC Adviser Sent to Jail for Moving Frozen Assets (Correct)

A former BGC Partners Inc. tax adviser accused of stealing about £24 million ($31.9 million) from the inter-dealer broker was sentenced to 16 months in jail by a London court after he admitted to violating a freezing order on his assets.

Michael Viney, along with another former senior broker, was accused by BGC of a “substantial fraud” by diverting money to his and his then-girlfriend’s accounts. He agreed to pay back £23.6 million, according to a court order, of which the US company has recovered almost £11 million so far. The firm brought a contempt case after discovering Viney violated ...