London Raid on ED&F Man Capital Markets Ruled Lawful by UK Court.

The UK court has ruled that the raid on the London offices of ED&F Man Capital Markets in 2022, conducted as part of the Cum-Ex trading probe, was lawful. The subsidiary of global commodities broker ED&F Man Holdings had challenged the search warrants and raids, arguing that they were disproportionate and unnecessary. However, the judge stated that given the scale and nature of the fraud, it was possible that ED&F Man still employed individuals involved in concealing relevant documents. ED&F Man was fined £17.2 million by the UK's Financial Conduct Authority in 2023 for its role in the Cum-Ex transactions. [Extracted from the article]