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Dunragit man loses latest round in shares case

Mr Craig

A MAN wanted by US authorities over his alleged involvement in a £1.1m shares scam has lost the latest round in his legal battle to remain in Scotland, the BBC reports. James Craig, of Dunragit, is said to have used Twitter to alter the share prices of firms on the Nasdaq stock exchange in 2013. After losing an extradition hearing, the 66-year-old challenged the decision at the Court of Criminal Appeal. In a written judgment, three judges have upheld the decision. Mr Craig is accused of creating fake Twitter accounts for reputable market research companies and spreading false rumours about other firms. It is alleged he bought shares as they slumped in response to the lies - then sold them when the price recovered. Earlier this year, lawyers for Mr Craig argued that their client's human rights would be breached if he was sent to the USA. They also argued that the sheriff who ordered Craig to be extradited to the United States had misinterpreted the law when making his ruling. However, in a written judgment Lady Dorrian, Lord Brodie and Lord Turnbull upheld the Sheriff's decision. Mr Craig's lawyers said they would appeal the decision to the UK Supreme Court.

<< back Published: 03 Jun 2020, 19:36

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