In the most noted case, brought by the Crown on Winston Churchill's behalf in 1923, Douglas was found guilty of libelling Churchill and was sentenced to six months in prison. Churchill had been accused as cabinet minister, of falsifying an official report on the Battle of Jutland in 1916 when, although suffering losses, the Royal Navy drove the German battle fleet off the high seas. Churchill was said to have reported that the British navy had in fact, been defeated; the motive was supposed to be that when this news was flashed, the prices of British securities would tumble on the world's stock exchanges, allowing a group of named Jewish financiers to snap them up cheaply. Churchill's reward was a houseful of furniture, valued at £40,000.