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Boldens cleared of 18 charges, guilty of one

Antoinette and David Bolden

Financiers David and Antoinette Bolden cried, hugged and prayed as they were cleared of theft and money laundering allegations today, but found guilty of misleading the Bermuda Monetary Authority.The verdicts came at the end of a five-week trial at Supreme Court. They were bailed by Chief Justice Richard Ground, but he warned they may face prison when they are sentenced at a later date.Greeting the verdict, Mrs Bolden's father, Arliss Francis, told The Royal Gazette: “I thank God it's over and thank God it came out well.”Mr and Mrs Bolden, who have spoken in the past of their strong Christian faith, clasped their hands in prayer and bowed their heads as the jury gave the verdicts.They then joined supporters in singing hymns outside court, but declined to speak to the media.During their trial, they were accused of stealing from exempt company Emerald Capital International, laundering the stolen funds and giving false information about their Emerald Financial Group of companies to the Bermuda Monetary Authority [BMA].The total amount alleged to have been stolen is $272,000. The Boldens, who are husband and wife, denied all the allegations.While the jury upheld their innocence in respect of the theft and money laundering allegations, they found the Boldens guilty of misleading the BMA over the financial position of the Emerald Financial Group which was licenced by the regulator.The Official Receiver was later called in after the Bermuda Monetary Authority took enforcement action to begin winding up the Emerald Group of Companies.