The case has yet to be heard - possibly. See link below:
In case the link is updated, this is the transcript of the piece:
Carl Cushnie - Mr Cushnie, founder of the trade finance group Versailles shot to fame after being listed in the Sunday Times Rich List. By the late 90s he was thought to be Britain's richest Black man, weighing in with an estimated fortune of over £350 million
Amid allegations of improper accounting and fraud, his company, Versailles went bust in December 1999. A case relating to the companies demise and manner of accounting is expected to be heard in late 2003.
A statement issued by Mr Cushnie stated that he categorically denied the allegations and that; he is one of the biggest victims of the fraud perpetrated upon the Versailles Group, if not the biggest.
Cushnie is intends to fight to clear his.
Versailles had been established in 1991 to offer bridging loans to companies. It floated on the Stock Exchange in 1995 and was valued at £630m in December 1999, when trading in the shares was suspended.
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