Arch cru administrator punished for pricing errors that cost investors millions

For its part in the Arch cru scandal, the Guernsey Financial Services Commission (GFSC) has fined Bordeaux £150,000, and its directors Peter Radford, Neal Meader and Geoffrey Tostevin, £50,000, £30,000 and £30,000 respectively. All three men have been banned from being partners or directors for five years in Guernsey, with the GFSC branding their behaviour as demonstrating a "consistent and serious lack of appropriate competence, judgement and diligence". The ruling is over six years in the making, as the complex web of what led to the circa £350m failure of Arch cru is slowly unravel...