Former Barclays banker found guilty of Euribor rigging March 26, 2019 A former Barclays banker has been found guilty of manipulating the Euribor interest rate benchmark while another was acquitted of the same offence. Carlo Palombo was today found guilty by a jury of nine men and three women at Southwark Crown Court after five days of deliberations and a two-month trial. Sisse Bohart, also a former [...]
Millions from London Capital & Finance flowed through accounts of four men, say administrators March 26, 2019 Millions of pounds of money invested in collapsed mini-bond company London Capital & Finance flowed through the accounts of four men, the administrators report said today. The report said Andy Thomson – LC&F’s chief executive, Simon Hume-Kendall – the chairman of one its biggest borrower London Oil & Gas, Elten Barker – who was a [...]
Stocks for a durable ISA portfolio in the Brexit years March 24, 2019 By Edmond Jackson from interactive investor. With the Brexit outcome still uncertain, companies analyst Edmond Jackson picks five larger cap stocks and three AIM shares for a resilient ISA. Be aware how sentiment towards equities hinges currently on whether Brexit is "resolved" by way of "Soft" business-friendly outcome, or the UK leaves the EU without [...]
Nicky Morgan calls for investigation into possible regulatory failings in collapse of lender London Capital & Finance March 19, 2019 The chair of the Treasury Committee Nicky Morgan MP has called for an investigation into whether there were regulatory failings surrounding the collapse of lender London Capital & Finance (LC&F) which went into administration in December. Morgan has written to the board of the Financial Conduct Authority (FCA) to ask it to consider whether the [...]
Fraud office launches investigation into collapsed lender London Capital & Finance March 18, 2019 The Serious Fraud Office (SFO) has launched an investigation into failed £236m lender London Capital & Finance (LCF), it said today. The SFO said it made four arrests in the Kent and Sussex areas on 4 March. It said all four individuals have been released pending further investigation. The SFO is investigating in conjunction with [...]
House of Lords Committee slams fraud office for slow pace of bribery investigations March 14, 2019 A House of Lords Committee today criticised the Serious Fraud Office (SFO) and Crown Prosecution Service (CPS) for the slow pace of bribery investigations. In a report on the Bribery Act 2010 published today, the Committee said: “The slow pace of investigations, and in particular the failure to update companies on their progress, is a [...]
Former head of public prosecutions barred from dealing with CPS and SFO over conflict fears March 10, 2019 The UK’s former director of public prosecutions (DPP) has been barred from contact with agencies such as the Serious Fraud Offices for two years over conflict of interest fears. Alison Saunders, who stepped down as DPP last year to join law firm Linklaters, is not allowed to deal with the Crown Prosecution Services (CPS) or [...]
Rolls-Royce turbulence finally nearing an end February 28, 2019 On the the face of it, aircraft engine manufacturer Rolls-Royce looks to be stuck on the runway. Shares fell 2.5 per cent yesterday as it reported £2.9bn total losses in 2018. These were largely down to long-running mechanical problems which have grounded one of British Airways’ new Boeing 787 Dreamliner jets at Heathrow airport for [...]
Ex-Barclays boss John Varley says £322m Qatar payment ‘not conditional’ on its involvement in the bank’s fundraising February 28, 2019 The former chief executive of Barclays John Varley said the bank’s controversial £322m services agreements with Qatar were “not conditional” on the Gulf state’s participation in its financial crisis fundraising, a court heard today. Varley, who is on trial for fraud alongside former colleagues Roger Jenkins, Tom Kalaris and Richard Boath, was in court to [...]
Ex-Barclays director says controversial deal with Qatar helped it win work in the Middle East February 27, 2019 A former Barclays executive told a court today that the bank’s two controversial £322m services agreements with Qatar at the time of its £12bn financial crisis fundraisings subsequently helped it win work in the Middle East. Former Barclays director Glenn Leighton said projects he had worked on in Bahrain and Kuwait were landed with the [...]