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Lib Dem donor fraud jury retires Top Lib Dem donor stole millions
(about 5 hours later)
The jury trying a businessman accused of using stolen money to donate to the Liberal Democrats is resuming its deliberations at Southwark Crown Court. A businessman who was the Lib Dems' biggest donor has been found guilty of stealing millions of pounds from former Manchester United boss Martin Edwards.
The donation of £2.4m was the biggest in the party's history. Michael Brown was tried in his absence after jumping bail.
Michael Brown, 42, is accused of nine charges, including fraud and money laundering. He denies all the charges. Posing as an international bond dealer, he claimed clients were "vetted" by US embassy officials and Special Branch before he accepted their money.
Among the the prosecution claims, is that Brown stole more than $11m (£7m) from former Manchester United football club chairman Charles Martin Edwards. Brown defrauded a total of $57.7m (£36 million), of which he donated a record £2.4 million to the Lib Dems.
The trial is being held in his absence, as he has been on the run since July. He will not be sentenced until apprehended.
The jury was sent home on Thursday after failing to reach verdicts. Brown had channelled the gift through a company called 5th Avenue Partners, Southwark Crown Court heard.
The Electoral Commission had ruled it was "reasonable" for the party to regard his donation as "permissible".
'Properly spent'
After the verdict Liberal Democrats said: "All our donations from 5th Avenue Partners were received in good faith and were properly spent on the general election campaign.
"Our auditors have seen our legal advice on this matter and confirmed that."
An American lawyer has launched High Court action for the return of hundreds of thousands of pounds he claims Brown gave to the Lib Dems.
The jury was told Brown pretended his father was a Lord, claimed connections with royalty, and promised investors returns of up to 50%.
The trial heard he carefully crafted an "illusion of wealth and influence" designed to give him social acceptability which he craved.
He flew in a private plane with then leader Charles Kennedy following the donation and dined with other senior Lib Dem figures.