Fraudulent duo imprisoned in wake of successful SFO prosecution

Bowers and Skeene were the masterminds behind Global Forestry Investments, a fraudulent green investment scheme which scammed around 2,000 investors out of their savings and pensions.

The duo encouraged victims to invest in three Brazilian teak tree plantations, claiming these were secure, well-managed and ethical investments that would help to protect the Amazon rainforest and support local communities. In reality, little-to-nothing was happening on the ground and the pair enriched themselves with the finances they duly received.

During the schemes’ operation, Skeene and Bowers collectively withdrew around £750,000 in cash and spent a further £2 million on luxury goods and entertainment. Skeene also used investors’ money to fund his own lavish wedding, while Bowers bought a Bentley Continental GT.

“Serious detrimental impact”

When handing down the sentences, His Honour Judge Pegden QC noted: “The investors believed that they were buying into an ethical investment scheme which would yield a safe and steady income. The reality was that you wrote or said things about the schemes which were either false or misleading at the outset or became so, and you failed to correct them.”

The Judge highlighted the “serious detrimental impact” the schemes had on investors, including some victims being prevented from retiring and suffering “prolonged distress and mental anguish”.

Last month, the SFO secured the convictions of Skeene and Bowers on three counts of conspiracy to defraud and one count of misconduct in the course of winding up a company.

Commending the SFO

His Honour Judge Pegden QC commended the “exceptional investigatory work” conducted by two SFO staff members, highlighting the “invaluable analysis” (delivered by Richard Middleditch) of the extensive communications between the defendants and the meticulous money tracing exercise that was performed by Richard Mills MBE.

Lisa Osofsky, director of the SFO, commented: “This sentencing outcome warns fraudsters that if they choose to play fast and loose with others’ hard-earned savings or pensions, we will pursue them and they will be held accountable for their crimes.”

Osofsky continued: “This is the first of seven cases we are taking to trial this year. Over the next six months, we will prosecute a further 18 defendants for alleged acts of fraud valued at over £500 million.”

Assistance from the Brazilian Ministério Público Federal

The SFO investigation into Global Forestry Investments was announced on 25 February 2015. Global Forestry Investments established three teak tree investment schemes in Brazil, known as Belem Sky Plantation, Para Sky Plantation and Para Grosso Sky Plantation.

The Brazilian Ministério Público Federal provided extensive help to the SFO’s investigation pursuant to mutual legal assistance requests, including with interviews of various Brazilian witnesses across two trips the SFO team made to Brazil.

The Judge imposed ten-year director disqualification orders on Skeene and Bowers to run concurrent to existing orders, with an expiration date set for 2032. Confiscation proceedings will take place in due course.