Senna fraudster undone

A stockbroker trading on his association with the late triple champion Ayrton Senna has been set a gigantic fine in the wake of a 'heinous' campaign of fraud.

Enrique Ernesto Perusquia has been ordered to pay $429m in damages for selling shares in dormant or near-bankrupt companies to wealthy clients in what was described by the New York Stock Exchange as a litany of "acts of fraud, forgery, breach of fiduciary duty, embezzlement, self-dealing and other heinous acts against claimants for which damages should be awarded."

With the actual damages of $208.7m and punitive damages for the same amount again, Perusquia was also ordered to meet $1m in costs and a further $11m in legal fees. Clements, O'Neill, Pierce, Nickens & Wilson partner John O'Neill said; "Mr. Perusquia used his connection with [late racing car driver Ayrton] Senna, who was unaware of what he was up to, to gain access to wealthy clients through the race car circuit."

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