First UK Bribery Act defendants appear in court September 23, 2013 THE FIRST defendants to be charged by the Serious Fraud Office (SFO) under the UK Bribery Act since it was introduced in 2011 appeared before Westminster Magistrates Court yesterday. The Serious Fraud Office (SFO) had charged the four men connected to Sustainable AgroEnergy with conspiracy to commit fraud by false representation and conspiracy to furnish false [...]
ENRC steps up legal battle with former director September 17, 2013 ENRC’S legal battle with city veteran Sir Paul Judge took a new turn this week, when the troubled miner produced transcripts it claims prove the former director leaked price-sensitive and confidential information to a journalist. ENRC, which is due to delist after more than five years on the FTSE 100, sued Judge back in July, [...]
Fraud watchdog set to prosecute Olympus’ Gyrus September 4, 2013 OLYMPUS, the famous camera-making brand, will be prosecuted by the UK’s Serious Fraud Office (SFO) for a case of wrongdoing linked to the huge accounting scandal that rocked the firm two years ago. The charges relate to Olympus’s British unit, Gyrus, and concern accounts being falsified. Gyrus has been informed of four charges, and Olympus [...]
Trouble at Olympus: SFO brings criminal charges against tech company September 4, 2013 The Serious Fraud Office (SFO) has charged camera and medical equipment company Olympus with offences of "making a statement to an auditor which was misleading, false or deceptive". The alleged offences are said to have taken place between April 2010 and March 2011 and arose from a global fraud case for which Olympus Corporation was [...]
What the other papers say this morning – 03 September 2013 September 2, 2013 FINANCIAL TIMES Dering Capital leads race for TDF Blackstone Group’s former top executive in Asia has emerged as the leading contender to buy the French assets of Europe’s largest telecoms tower operator TDF in a deal worth up to €3.8bn (£3.22bn). Dering Capital, started by Ben Jenkins after he left the US private equity group [...]
First charges brought under UK Bribery Act August 15, 2013 THE UK’S fraud squad has brought its first charges under the Bribery Act since it was introduced in 2011, charging four individuals over an alleged conspiracy to commit a £23m fraud. The Serious Fraud Office (SFO) charged four men connected to Sustainable AgroEnergy with conspiracy to commit fraud by false representation and conspiracy to furnish [...]
ENRC earnings hit by slump in commodities August 14, 2013 PROFITS at under-fire mining group ENRC have slumped in the first half of the year as costs rose and the value of commodities fell. The firm, which is caught up in a takeover offer from its founders as well as a Serious Fraud Office investigation, said revenues fell one per cent to $3.2bn (£2.06m) while [...]
Fraud office vows to clean up its risk rules after data loss scandals August 11, 2013 THE SERIOUS Fraud Office (SFO) yesterday vowed to improve controls after losing thousands of pages of evidence on its BAE Systems investigation and briefly mislaying others in its probe into the Tchenguiz brothers. Last week the crime investigation agency revealed it returned 32,000 pages and 81 audio tapes on the BAE case to the wrong [...]
Fraud squad loses 32,000 pages of probe documents August 8, 2013 THE SERIOUS Fraud Office admitted yesterday that it accidentally sent 32,000 pages of evidence to the wrong person in the wake of its investigation into BAE Systems’ arms deal with Saudi Arabia. The SFO revealed that it took a year for it to realise the mistake, in the latest embarrassment for the fraud-fighting body. Officials [...]
Serious Fraud Office launches investigation into data loss August 8, 2013 The Serious Fraud Office (SFO) has launched an investigation into the loss of a large amount of data relating to an investigation into defence contractor BAE Systems. The data loss occurred when the SFO mistakenly sent 32,000 document pages, 81 audio tapes and electronic media from a probe into BAE to the wrong person. The [...]