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 [...]
Tom Hayes Libor trial timeline key dates: Former trader accused on attempting to manipulate Libor rate August 3, 2015 Well, that's it: former UBS and Citibank trader Tom Hayes has been sentenced to 14 years in jail, after being found guilty on eight counts of conspiring to rig the Libor rate. During a nine-week trial, the prosecution painted Hayes as someone who acted in a "thoroughly dishonest and manipulative manner" to mastermind a web [...]
Ex-trader Tom Hayes sentenced to 14 years as he is found guilty on Libor charges August 3, 2015 Former City trader Tom Hayes was sentenced to 14 years in jail as he became the first person to be convicted over the Libor rate rigging scandal, after being found guilty on all eight counts of conspiring to defraud by a jury at Southwark Crown Court today. The jury had been out for a week, [...]
Jury sent out to consider verdict in Tom Hayes libor-rigging trial July 29, 2015 The jury has been out to consider the verdict in the trial of former trader Tom Hayes who is accused of attempting to manipulate the Libor rate. The former UBS and Citigroup yen derivatives trader, who is 35, denies eight charges of conspiracy to defraud between August 2006 and September 2010. Prosecutors have branded Hayes "greedy" and [...]
Barclays and UK fraud office eye deal over criminal probe into Qatar July 21, 2015 Barclays is widely believed to be in talks with the Serious Fraud Office (SFO) over a potential deal to resolve a long-running criminal probe into the bank’s dealings with Qatari investors in 2008. The SFO has proposed the possibility of a deferred prosecution agreement (DPA) linked to the bank’s fundraising activities during the financial crisis. [...]
Sepp Blatter resigns as president of Fifa June 2, 2015 Fifa boss Sepp Blatter resigned from his presidency of the organisation, after weeks of accusations in the run-up and following his re-election as president. Read more: Blatter's Fifa reign is four times longer than the average FTSE boss In a last-minute press conference called this afternoon, Blatter said the organisation "needs a profound restructuring", and [...]
Fifa crisis: Barclays, HSBC and Standard Chartered to launch internal review following FBI investigation May 31, 2015 Barclays, HSBC and Standard Chartered are all believed to have launched internal investigations into their role in the Fifa corruption scandal that has engulfed world football this week. The British banks were all named in the US Department of Justice's (DOJ) lawsuit against 14 people – including nine Fifa officials – for racketeering, wire fraud and [...]