SFO charges former Deutsche Bank trader over Euribor manipulation October 21, 2018 The Serious Fraud Office has charged Andreas Hauschild, a former trader at Deutsche Bank, with conspiracy to defraud as part of an investigation into the manipulation of the Euro Interbank Offered Rate (Euribor). Hauschild was extradited to the UK after being arrested in Italy in August, and appeared before Westminster Magistrates’ Court yesterday, the SFO [...]
Judge says property mogul Robert Tchenguiz should apologise to audit firm Grant Thornton after multi-million pound case dropped October 17, 2018 A judge today said property tycoon Robert Tchenguiz owed an apology to audit firm Grant Thornton after he dropped a multi-million pound claim against it on Monday. Mr Justice Robin Knowles said: “In the view of this court, each claimant including Mr Robert Tchenguiz, owes each defendant an apology for this litigation. The court cannot compel [...]
Robert Tchenguiz drops multi-million pound legal action against Grant Thornton October 15, 2018 Property mogul Robert Tchenguiz today dropped his multi-million pound claim against Grant Thornton in a move described by the accountancy firm as "total capitulation". The flamboyant millionaire was due to give evidence at court today in a trial in which he accused the accountancy firm, two of its partners and former Kaupthing lawyer Johannes Runar [...]
Patisserie Valerie finance director arrested and released on bail as fraud probe launched October 12, 2018 Suspended Patisserie Valerie company finance director Chris Marsh has been arrested and released on bail, the company announced this morning, as the Serious Fraud Office (SFO) opened a criminal investigation into potential fraud at the company. Marsh was suspended on Wednesday after the high street cake shop revealed it had been notified of "significant and [...]
Disclosure failings the ‘biggest single cause of miscarriages of justice’, says outgoing watchdog head October 11, 2018 The outgoing head of the body that investigates potential miscarriages of justice has said disclosure failings remain the "biggest single cause of miscarriages of justice" and called for a "targeted review" into existing convictions. In a farewell speech delivered last night, Richard Foster of the Criminal Cases Review Commission (CCRC) said that "too often" there [...]
Tesco execs stayed silent about a massive hole in its accounts say prosecutors October 9, 2018 Two senior former Tesco executives on trial for fraud in London were presiding over a “car crash waiting to happen” Southwark Crown Court heard today. Sasha Wass QC, prosecuting for the Serious Fraud Office (SFO), said Tesco’s former UK managing director Chris Bush and ex-UK food commercial director John Scouler were aware of a shortfall [...]
Former Tesco directors face court over roles in 2014 accounting scandal October 8, 2018 Two former Tesco directors faced allegations in court today that they manipulated figures that resulted in the supermarket chain's 2014 accounting scandal and a £2bn wipe-off of its share price. Christopher Bush, Tesco's former UK managing director, and ex-UK food commercial director John Scouler have each been charged with one count of fraud and false accounting. Former UK [...]
Robert Tchenguiz accuses Grant Thornton of conspiracy over fraud office probe October 8, 2018 Lawyers for property mogul Robert Tchenguiz today accused audit firm Grant Thornton of conspiring to persuade the Serious Fraud Office (SFO) to launch an investigation into his business dealings with the Icelandic bank Kaupthing. The flamboyant millionaire was in a packed London courtroom to hear his Queen’s Counsel Stephen Rubin of Fountain Court accuse the [...]
Serious Fraud Office general counsel leaves regulator for private law firm Kingsley Napley September 24, 2018 The man tipped for the top job at the Serious Fraud Office before former FBI lawyer Lisa Osofsky won the post will leave the regulator for private practice next year. Alun Milford, who served as the SFO's general counsel, has joined Kingsley Napley as a partner in criminal litigation. Milford has been a government prosecutor for 26 years. [...]
Former Barclays trader Jay Merchant jailed for Libor rigging deported to India September 18, 2018 One of the first bankers jailed for Libor rigging has been deported to India, City A.M. can reveal. Indian-born Jay Merchant was the most senior of a group of Barclays bankers sentenced for manipulating the benchmark – used to set borrowing rates for trillions worth of loans and derivatives – following an 11-week trial at Southwark [...]