DISGRACED business tycoon Trevor Baines and his wife Wendy were today handed jail terms for the theft of hundreds of thousands of pounds from a trust fund set up by a cancer victim.
Trevor Baines, 71, was sentenced to two-and-a-half-years’ prison, which is in addition to the six he is already serving.
Wendy Baines, 52, was sentenced to 18 months prison.
Meanwhile, advocate Jenny Holt, who represented them in a high-profile criminal trial, walked free from court with a 12 months prison sentence suspended for two years, having previously been found guilty of handling £400,000 stolen by the Baines from the trust fund.
An appeal against her conviction has been launched by Jenny Holt.
Trevor Baines has admitted five counts of theft in relation to £770,000 stolen from Hermitage Securities Limited and Euros 43,383.95 from Henry Charles Taylor. His wife Wendy Nicolau De Almeida Baines has also pleaded guilty to the theft of £400,000 from Hermitage Securities Limited.
The Baineses used the money to fund the legal fees for their high profile criminal trial in 2009.
Mr Baines was convicted of money laundering following that trial, the largest such case ever seen in the island, and was subsequently jailed for six years. He and his wife were also convicted of false accounting. Mrs Baines was sentenced at that time to nine months in prison, suspended for two years.
Ms Holt, 30, of Lhergy Cripperty, Union Mills, was convicted by a jury last month of money laundering and two counts of falsifying documents.
The Crown alleged that Ms Holt, who worked as a junior advocate for Moroneys and was assigned to the defence team in the Baines trial, recklessly facilitated the arrangement of the loan from the trust, knowing it to be dishonest.
Her defence insisted she was fooled by Mr Baines, who was described in court as a confidence trickster.
The Hermitage Securities Trust was set up on behalf of a client of the Baineses but subsequently died of cancer.