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 [...]
Serious Fraud Office increasingly asking firms to hand over data without court approval September 17, 2018 Big businesses are increasingly being asked to hand over information for investigations to the Serious Fraud Office (SFO) without the government agency going through the courts for approval, according to a report out today. International law firm Pinsent Masons said the number of 'Section 2' notices issued by the SFO has more than doubled in the past [...]
Serious Fraud Office increasingly asking firms to hand over data without court approval September 17, 2018 Big businesses are increasingly being asked to hand over information for investigations to the Serious Fraud Office (SFO) without the government agency going through the courts for approval, according to a report out today. International law firm Pinsent Masons said the number of 'Section 2' notices issued by the SFO has more than doubled in the past [...]
Slaughter and May hires former Serious Fraud Office head David Green as senior consultant September 11, 2018 The former head of the Serious Fraud Office, David Green, has confirmed his move to magic circle firm Slaughter and May after months of speculation. Green left the government agency in April this year after six years at the helm and was replaced by former FBI lawyer Lisa Osofsky. Slaughter and May said Green [...]
Miner ENRC victorious over Serious Fraud Office in ‘historic’ Court of Appeal battle on legal privilege September 5, 2018 Lawyers hailed ENRC’s Court of Appeal win over the Serious Fraud Office (SFO) in a legal privilege case today as “fundamental to our legal system”. In today’s judgment the Court of Appeal overturned a High Court decision from May that compelled miner ENRC to hand over the results of an internal investigation into corruption, carried out by [...]
London boss of foreign bank arrested over bribery investigation September 3, 2018 The head of an international bank’s UK arm has been arrested on suspicion of bribery, it emerged this afternoon. In comments made to a conference in Cambridge, the deputy director of the National Crime Agency (NCA)’s economic crime unit said that two senior individuals from a foreign bank’s London unit have been detained following a seven-month [...]
Serious Fraud Office suspends lawyer in charge of Unaoil criminal investigation | City A.M. August 12, 2018 The senior lawyer in charge of an ongoing criminal investigation into Monaco-based oil firm Unaoil has been suspended. Tom Martin, the lawyer managing the Serious Fraud Office’s (SFO) probe into the oil consultancy, has been suspended within the last few weeks for gross misconduct, according to Sky News. It comes just weeks before the agency’s [...]
Star former Barclays trader convicted of Euribor rate rigging | City A.M. July 12, 2018 A former Barclays star trader has been found guilty of rigging the Euribor rate while the jury failed to reach a verdict on three other traders today. Former Barclays trader Philippe Moryoussef was found guilty of conspiracy to defraud on June 29. Deutsche Bank trader Achim Kraemer was earlier found not guilty of the same [...]
Serious Fraud Office ends Lloyds Libor probes because of “insufficient evidence” July 4, 2018 The Serious Fraud Office (SFO) has dropped a criminal investigation into Libor manipulation at Lloyds Banking Group, removing a cloud over the lender. The SFO dropped the case because it lacked evidence, despite the Financial Conduct Authority’s previous assertion that 16 individuals at Lloyds knew about the Libor fixing. Some lines of inquiry in the [...]
Draft Project Lord Turnbull Report: MPs call on Serious Fraud Office and National Crime Agency to investigate Lloyd’s-Hbos fraud further June 22, 2018 MPs are calling for an investigation into potential criminality regarding the handling by Lloyds Banking Group of a fraud at its Hbos Reading unit more than a decade ago and into the role of auditor KPMG. The All Party Parliamentary Group on Fair Business Banking, which is chaired by Kevin Hollinrake MP, has urged the [...]