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 [...]
Serious Fraud Office accidentally sends data from BAE probe to wrong person August 8, 2013 The Serious Fraud Office has mistakenly sent 32,000 document pages, 81 audio tapes and electronic media from a probe into BAE Systems to the wrong person. Around 98 per cent of the material has been recovered and the SFO said it is attempting to recover the remaining material not already destroyed by the recipient. The [...]
Barclays plans £5bn share sale July 29, 2013 BARCLAYS will today reveal how it plans to plug its capital hole, raising funds from shareholders to reassure regulators it is a strong, stable bank. After weeks of intense negotiations with the City watchdog, chief executive Antony Jenkins is set to unveil a plan that aims to balance investors’ hopes that they will not [...]
Barclays shares slump as it confirms regulator talks to fix balance sheet July 29, 2013 Shares in Barclays have dropped by more than 3.5 per cent today as it confirms that it is in discussions with the Prudential Regulatory Authority (PRA) "regarding its financial and capital management plans" (release). The 9.46 announcement appears to have had little impact on the bank's shares, which dropped on the open. The statement has [...]
What the other papers say this morning – 29 July 2013 July 28, 2013 FINANCIAL TIMES Treasury pledges £2m for SFO probe The UK Treasury is expected to pledge special “blockbuster” funding to the Serious Fraud Office to back its investigation into Barclays’ emergency fundraising five years ago, in a sign of the agency’s escalating probe into the bank. The cash-strapped SFO, which launched a criminal investigation into the [...]
SFO’s tip-off service nets no investigations July 25, 2013 THE SERIOUS Fraud Office has had its hands full in the last year. From Libor to ENRC to GSK, a dizzying array of acronyms has built up in its in-tray. So it’s laudable that the SFO took the time this week to email in about a story City A.M. ran in March on the organisation’s [...]
Serious Fraud Office hopes to make more Libor charges in Autumn July 25, 2013 The UK Serious Fraud Office (SFO) has said it is hoping to make more charges against individuals for manipulation the Libor interbank lending rate this Autumn and is not afraid of legal barriers to convicting corporations. Speaking to Reuters, a spokesperson for the SFO said: We will go where the evidence takes us, but we [...]
Former ENRC director set to fight lawsuit July 21, 2013 FORMER ENRC director Sir Paul Judge has pledged to fight a lawsuit brought by the mining company over claims he leaked information to the media. Judge said in a statement over the weekend that he “den[ies] entirely” the company’s claims that he leaked an email to the press in October. Judge, who stepped down from [...]
Mayfair mews pays out for property mogul July 21, 2013 VINCENT Tchenguiz, the property tycoon wrapped up in a legal battle with the Serious Fraud Office (SFO) has had one piece of good news of late – the mogul has sold his Mayfair home for almost £17m. The eight-bedroom property on Lees Place in Mayfair is close to Annabel’s private members club and only five [...]