Oil trader sentenced to two years in jail over divorce


An oil trader in Dubai has been sentenced to almost two years in prison by a U.K. judge for failing to comply with court orders in a more than $7.9m divorce case.

Bloomberg News reports that Wade Cherwayko, the former chief executive officer of Mart Resources, has shown 'contempt' and is 'untrustworthy' after breaking promises to appear in court and hand over 5m shares in the company as collateral for his financial obligations, Judge Judith Parker said Monday in London.

The fact that Cherwayko 'may escape implementation of a custodial sentence by remaining outside the jurisdiction is no reason not to impose an immediate custodial sentence', Judge Parker said. 'He may not be able to remain outside it for all time'.

To access the complete Bloomberg News article hit the link below:

Oil Trader Gets 21 Months in Prison Over U.K. Divorce Suit

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