Guinness affair

In British law, a case of financial fraud during the takeover of Distillers by the brewing company Guinness in 1986. Those accused of acting illegally to sustain Guinness share prices included Ernest Saunders, the former chief executive. The trial, which lasted February–August 1990, was widely seen as the first major test of the government's legislation aimed at increasing control of financial dealings on London's Stock Exchange.

Ernest Saunders, Gerald Ronson, and Sir Jack Lyons were found guilty on a variety of theft and false-accounting charges. The trial lasted 107 days at an estimated cost of £20 million. In November 1995 they lost an appeal against their convictions; the appeal had been called for after it emerged that evidence in their favour had been withheld during the original trial.