Saunders Lodges Appeal Against Sentence: Ernest Saunders,...
From Times Staff and Wire Reports
Saunders Lodges Appeal Against Sentence: Ernest Saunders, former chairman of Guinness PLC, and stockbroker Anthony Parnes will appeal their convictions for fraudulently engineering Guinness’ takeover of a Scottish distiller, lawyers said. Saunders, 54, and Parnes, 44, were sentenced to prison time for their parts in a scheme to boost Guinness stock during the company’s $5.26-billion takeover of Distillers Ltd. in 1986. Lawyers for Gerald Ronson, who was also sentenced, said he was also considering an appeal. A fourth man convicted, Sir Jack Lyons, 74, was freed on bail so he could undergo surgery.