Libor scandal trial: All six defendants cleared after sixth broker acquitted by jury, as case is branded a “shambles” January 28, 2016 Former ICAP broker Darrell Read has been acquitted of accusations related to manipulating the London Interbank Offered Rate (Libor), as the decision to bring the case was slammed. Yesterday, the jury acquitted five other ex-brokers and determined that Read was not guilty on one count of charges against him, although it was yet to reach a decision on [...]
Libor scandal: Serious Fraud Office has “serious questions” to ask itself after five of six brokers accused of rigging Libor acquitted on counts of conspiracy to defraud January 28, 2016 Five brokers accused of conspiring with Tom Hayes to fix Libor were acquitted yesterday, dealing a blow to the Serious Fraud Office's clampdown on financial misconduct. A jury at Southwark Crown Court acquitted Colin Goodman and Danny Wilkinson, who both used to work at ICAP, Noel Cryan, formerly of Tullett Prebon, and Terry Farr and James [...]
Libor scandal brokers: Jury acquits five of six brokers on accusations of conspiracy to defraud in latest Libor verdict, but is still considering one of the charges against the sixth January 27, 2016 A jury has today acquitted five of six brokers accused of offences related to manipulating the London Interbank Offered Rate (Libor). The brokers who have been acquitted are Colin Goodman and Danny Wilkinson, who both used to work at ICAP, Noel Cryan, formerly from Tullett Prebon, and Terry Farr and James Gilmour, both formerly of RP Martin. The verdict for [...]
Tesco faces legal battle with shareholders over profits scandal January 26, 2016 Angry shareholders are poised to launch legal action against Tesco over the billions of pounds in value wiped off the supermarket chain in 2014 following revelations of its £265m profits black hole. Law firm Stewarts Law said it will shortly be writing to the company on behalf of institutional shareholders as the prelude to formal legal action, which will seek to [...]
Tesco share price falls as Serious Fraud Office’s investigation is set to conclude January 25, 2016 A criminal investigation into Tesco, the UK's biggest retailer, by the Serious Fraud Office (SFO) is set to come to a conclusion after more than a year, according to Cantor Fitzgerald analysts. The investigation, launched in October 2014 after a multi-million pound profit black hole was uncovered at the supermarket, had been due to be resolved by the end of last year. [...]
Euribor trial: Jury trial date set for six people – two who worked at Deutsche Bank and four who worked at Barclays – accused of manipulating Euribor rate as 4 September 2017 January 13, 2016 The jury trial date for six people alleged of playing a role in the manipulation of the Euro Interbank Offered Rate (Euribor) has today been set to begin on 4 September 2017. Former Deutsche Bank employee Christian Bittar and Achim Kraemer, who is still at that bank, alongside ex-Barclays staff members Colin Bermingham, Carlo Palombo, Philippe Moryoussef and Sisse [...]
Euribor trial: 11 former Barclays, Deutsche Bank and Societe Generale employees set for first court appearance over rate fixing allegations January 10, 2016 Nearly a dozen people accused of manipulating a key rate of lending between European banks are due to make their first appearances in court this week in the latest of several rate rigging prosecutions brought by the Serious Fraud Office. 11 former employees of Barclays, Deutsche Bank and Societe Generale will appear at Westminster Magistrates’ Court on Monday over alleged manipulation of the Euro Interbank Offered Rate (Euribor). The men and [...]
Serious Fraud Office takes 11 from Barclays, Deutsche Bank and Societe Generale to court over Euribor rigging December 21, 2015 The Serious Fraud office (SFO) is set to take 11 individuals to court for the rigging of a key European interest rate. The European interbank offered rate (Euribor) is a rate at which banks can lend to one another in euros and which acts as benchmark for other interest rates. The SFO named 10 of the individuals last month, adding [...]
Cenkos share price rises after it denies probe by the Serious Fraud Office over Quindell December 8, 2015 Shares in Cenkos rose 15.5 per cent to 170.4 p per share today, after the mid-tier broker and investment house said it's not under investigation by the Serious Fraud Office (SFO). Cenkos was formerly the nominated adviser to scandal-engulfed insurance services company Quindell, which is currently being investigated by the SFO over "business and accounting practices". The clarification came [...]
Countdown to Christmas 2015: Seven losers of the year featuring Sepp Blatter, Ukip and the England rugby team December 5, 2015 For every glorious sporting triumph, history-making achievement, scientific breakthrough, artistic masterpiece or political triumph achieved in 2015, there has been a fall from grace to go with it. Whether it's an ousted president, collapsed share price or corporate disaster, for this lot, 2016 can't come soon enough. Read more: Beer, burritos and gifs: This was crowdfunding in 2015 [...]