Libor trials in jeopardy over legal aid cuts May 1, 2014 BRITAIN’S anti-fraud regime could fall to pieces if more cases collapse from a lack of legal aid funding, insiders at the UK’s enforcement agencies warned yesterday. It comes after a judge at Southwark Crown Court halted a fraud case, worked on by the Prime Minister’s lawyer brother, because the five accused could not find a [...]
Former Barclays traders charged in Libor probe April 28, 2014 THREE more former Barclays traders were yesterday charged by the Serious Fraud Office over their alleged involvement in attempts to manipulate Libor. Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich are accused of conspiracy to defraud and will appear at Westminster Magistrates’ Court in the coming weeks. The staff were all based in the [...]
Three ex-ICAP staff in court to face fraud allegations over Libor April 14, 2014 A TRIO of former workers at interdealer broker ICAP are due in court today over claims they were involved in efforts to manipulate key interest rate benchmark Libor. Daniel Martin Wilkinson, Darrell Paul Read and Colin John Goodman face allegations of conspiracy to defraud. They are scheduled to appear at Westminster Magistrates’ Court at 10am. The Serious Fraud [...]
Tchenguiz brothers plan next step in dispute with fraud office April 8, 2014 THE TCHENGUIZ brothers will on Friday apply to bring in a criminal barrister to explore whether the Serious Fraud Office or Grant Thornton committed a criminal offence, following the disclosure of documents relating to their arrests three years ago. A case management conference has been taking place over the course of this week ahead of [...]
Rolls-Royce to overhaul ethics in face of probe March 5, 2014 AEROSPACE and defence giant Rolls-Royce yesterday outlined a new strengthened ethics policy, as it awaits the outcome of a fraud investigation into allegations of bribery and corruption. In its annual report, the FTSE 100-quoted firm said it had re-launched an ethics hotline available 24 hours a day, where individuals can raise any concerns. It also [...]
Former Barclays traders in court on Libor claims February 26, 2014 THREE ex-Barclays traders appeared in court yesterday after the Serious Fraud Office (SFO) charged them with conspiracy to defraud by entering false Libor submissions. Jonathan James Mathew, 31, Peter Charles Johnson, 59, and Stylianos Contogoulas, 42, confirmed their names and addresses to Westminster Magistrates’ Court. The SFO claims that between 1 June 2005 and 31 August 2007 [...]
UK prosecutors handed power to use plea bargains for corporates February 23, 2014 BRITISH prosecutors will have new powers from today to offer US-style plea bargains to companies accused of corporate crimes, in return for penalties and concessions. Deferred Prosecution Agreements (DPAs) will allow firms to avoid prosecution for crimes including corruption and fraud if they agree to certain conditions. These could includes fines, compensation for any victims, [...]
Former Barclays traders charged in Libor probe February 17, 2014 THREE ex-Barclays traders were charged in relation to the fraud squad’s Libor probe yesterday. The action doubles the number of financiers facing criminal proceedings over the attempts to manipulate the key inter-bank lending rate, after a former UBS banker and two ex-RP Martin brokers were charged last year. It is understood that more ex-bankers and [...]
Libor case sees 3 ex-Barclays employees charged February 17, 2014 The Serious Fraud Office (SFO) has confirmed that three former Barclays employees have been charged in the UK in connection with the manipulation of the London Interbank Offered Rate (Libor). The SFO’s named the individuals as Peter Charles Johnson, Jonathan James Mathew and Stylianos Contogoulas. It’s alleged they conspired to defraud between 1 June 2005 [...]
Stocks rocked by Rolls-Royce growth warning February 13, 2014 ROLLS-ROYCE said its profits fell more than a third in the last year, and warned there will be no growth in 2014 either, sending its shares tumbling almost 14 per cent and dragging the FTSE 100 lower yesterday. The engineering giant reported pre-tax profits of £1.76bn, down 36 per cent on the previous year, though [...]