After Maxwell drowned mysteriously while cruising off the Canary Islands, investigators discovered that he had misappropriated hundreds of millions of dollars from his companies and their pension plans to finance his corporate expansion. Maxwell's companies were forced to file for bankruptcy protection in Great Britain and the United States in 1992. In 1995 Maxwell's sons Kevin and Ian and two former directors went on trial in one of Britain's largest fraud cases. The charges included misusing Maxwell group pension fund stocks to assist a faltering Maxwell company and risking pension fund shares to secure a loan for another Maxwell company. They were acquitted in 1996.
See T. Bower, Maxwell (1992) R. Greenslade, Maxwell (1992) and E. Maxwell (his widow), A Mind of My Own (1994).
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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