SFO set to quiz Clarke on Tesco August 27, 2015 FORMER Tesco boss Philip Clarke is set to be grilled by the Serious Fraud Office (SFO) as part of an investigation into the supermarket chain’s multi-million-pound accounting black hole. The UK prosecutors have also called in ex-commercial director Kevin Grace for questioning, according to Bloomberg News. The SFO and Tesco declined to comment. After Clarke [...]
Libor rate-fixing scandal: Serious Fraud Office grills Deutsche Bank traders August 27, 2015 Deutsche Bank traders have been interviewed by the Serious Fraud Office (SFO) in recent weeks in relation to the Libor scandal. A number of traders, both current and past, have been questioned by UK prosecutors about the manipulation of Libor – the rate at which banks lend to each other, according to Bloomberg. The SFO [...]
Oil firm Soma commissions report into UN group after accusations spark probe August 23, 2015 SOMALIA-based oil and gas exploration firm Soma, which is under investigation by the Serious Fraud Office (SFO), has commissioned a report into the United Nations monitoring group which sparked the probe. Following a leaked UN report into allegations of corrupt payments in Somalia, the firm, chaired by former Conservative leader Michael Howard, was placed under [...]
FCA drops investigation into Quindell in light of Serious Fraud Office probe August 18, 2015 The Financial Conduct Authority (FCA) has dropped its investigation into troubled insurance outsourcer Quindell with immediate effect, making way for the criminal investigation being carried out by the Serious Fraud Office (SFO). "Quindell announces that it has been informed by the FCA that, in light of the investigation by the SFO into past business and accounting [...]
Quindell names new boss to unravel mess August 17, 2015 EMBATTLED insurance outsourcer Quindell yesterday appointed tech development guru Indro Mukerjee as its new chief executive, two months after the departure of Robert Fielding. The appointment was made public amid investigations by the Serious Fraud Office and Financial Conduct Authority into previous business and accounting practices. The announcement ends 80 days of uncertainty for Quindell [...]
Quindell share price edges up as it appoints Indro Mukerjee as chief executive August 17, 2015 Shares in embattled insurance outsourcer Quindell rose 2.15 per cent after it announced it had appointed a new chief executive, two months after the departure of Robert Fielding. Read more: Four things we know about Quindell's new chief exec Indro Mukerjee will start his job on 7 September. His appointment came as the company's business and [...]
Head of the Serious Fraud Office David Green says agency’s future is uncertain despite conviction of Tom Hayes August 6, 2015 The director of the Serious Fraud Office, David Green, has said the future of the agency is uncertain, despite recent success. In an interview with the Guardian, Green said that despite the recent conviction of Tom Hayes over Libor rigging, the agency's future is shrouded in doubt due to setbacks in certain investigations. A jury [...]
Quindell share price plummets by a third on its first day of trading since June August 6, 2015 The share price of troubled insurance claims processor Quindell fell almost 40 per cent to 79p this morning as trading in the company's shares resumed for the first time since it suspended them in June. The news came the day after the the Serious Fraud Office (SFO) launched an investigation into the company, following a [...]
Quindell faces criminal investigation by Serious Fraud Office August 5, 2015 The Serious Fraud Office (SFO) has launched a criminal investigation into the Aim-listed tech company Quindell. Quindell said in a market update that it was informed of the probe this afternoon and the SFO is investigating its business and accounting practices. The investigation comes after the troubled company reported £238m annual losses and restated previous [...]
Tom Hayes Libor conviction: Serious Fraud Squad targets more Libor scalps after UBS and Citigroup trader received 14 years August 5, 2015 Top City lawyers are describing the conviction of Tom Hayes as a “game changer” for the prosecution of white-collar crime, saying that the decision paves the way for more people being charged and rescues the reputation of the Serious Fraud Office (SFO). A jury convicted Hayes, a former UBS and Citigroup trader, on Monday on [...]