SFO under fire for ‘huge mistakes’ and wasting millions of taxpayers’ cash in 10-year probe of G4S March 10, 2023 The Serious Fraud Office (SFO) has come under fire for wasting millions of pounds of taxpayers’ money and making “huge mistakes” in its 10-year investigation into G4S’s electronic tagging arm as charges against three former executives were dropped. In September 2020, former managing director Richard Morris, former commercial director Mark Preston and former finance manager [...]
UK’s Serious Fraud Office should cover ENRC’s £21m costs in corruption investigation, London’s High Court hears March 6, 2023 Kazakh mining company ENRC today said the UK’s Serious Fraud Office (SFO) should, alongside US law firm Dechert, cover extra costs it accrued because of ex-City lawyer Neil Gerrard’s decision to leak company information to the fraud investigator, leading to the launch of a 10-year probe into the former FTSE 100 firm. At the opening [...]
UK’s Serious Fraud Office to face Kazakh miner ENRC in court as decade-long legal fight continues March 6, 2023 The UK’s Serious Fraud Office (SFO) will today face Kazakhstani mining company ENRC in London’s High Court, as it continues its fight against the British government agency almost 10 years after it first launched an investigation into the former FTSE 100 firm. The SFO first launched its investigation into ENRC in April 2013 in relation [...]
Glencore fined £582m by US court for bribing African and South American officials March 1, 2023 Glencore has been fined $700m (£582m) over the corruption scandal that saw the company’s execs pay more than $100m in bribes to officials in Africa and South America. A New York court has ordered Glencore to pay a $428.5m fine and forfeit a further $272m, after the commodities giant agreed a plea deal last May. [...]
Former Met police detective sues ex-City lawyer over ENRC hacking claims February 27, 2023 A former Metropolitan police officer has accused an ex-City lawyer of trying to hack his emails to steal information about Kazakh mining company ENRC. Former detective Cameron Findlay has claimed ex-Dechert partner Neil Gerrard orchestrated a campaign of ‘spear-phishing’ attacks against him during a court dispute surrounding the Kazakh firm, US court papers show. A [...]
GFG tycoon Sanjeev Gupta vows to fight UK steelmaker’s bankruptcy and save hundreds of jobs February 23, 2023 Sanjeev Gupta’s GFG Alliance has vowed to “fight” a New York investment fund’s bid to plunge one of its major customers into bankruptcy after fully acquiring the firm earlier this month. GFG is seeking to block West Midlands steel products maker Aartee Bright Bar from collapsing into insolvency after the manufacturer’s main creditor, FGI, decided [...]
UK agency looks to seize mortgage fraudster’s donation to Chelsea private school February 13, 2023 The UK’s Serious Fraud Office (SFO) is seeking to seize a £92,500 donation given by a Mayfair property magnate who was convicted of fraud to his daughter’s private school. The fraud investigator is seeking permission from a London court to confiscate the money given to his daughter’s school by mortgage fraudster Achilleas Kallakis. The conman [...]
Balli Steel execs found guilty of £120m fraud at collapsed trading firm February 2, 2023 Two Balli Steel executives have been convicted of using forged documents to mislead banks into lending the bankrupt commodities trader $150m (£122m). A jury at Southwark Crown Court today found Balli Steel executives Melis Erda and Louise Worsell guilty on six counts of fraud. Worsell, the managing director of Balli’s UAE business, and Erda, group [...]
Serious Fraud Office: Osofsky backs government’s plan for new ‘failure to prevent’ fraud offence January 25, 2023 The director of the UK’s Serious Fraud Office (SFO) has backed plans for a new ‘failure to prevent’ fraud offence, after government ministers today confirmed the offence would make its way on the statute books. SFO chief Lisa Osofsky said government plans to introduce a failure to prevent offence for fraud has the “potential to [...]
Dentons poaches top SFO lawyer in push to bolster investigations team January 5, 2023 Dentons has poached one of the Serious Fraud Office’s (SFO’s) top lawyers, as it pushes forwards with efforts to bolster its ranks with public sector hires. SFO deputy general counsel Rebecca Dix will take on a new position at Dentons’ London office, switching from the public sector crime agency to the fourth largest law firm [...]