June 8 (Bloomberg) -- Three men went on trial in London accused of trying to sell the city’s landmark Ritz Hotel and Casino even though they didn’t own it.
Conn Farrell, 57, Patrick Dolan, 68, and Anthony Lee, 49, are accused of trying to sell the hotel, owned by billionaire British financiers David and Frederick Barclay, to a property development company for 250 million pounds ($359 million). That price was a “gross undervaluation” of the property, according to a prosecutor at the trial, which began today at Southwark Crown Court in London. The men have all pleaded not guilty.
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