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. A prosecution witness called by the Serious Fraud Office (SFO) as an expert on trading has admitted texting friends in the middle of his trial evidence to ask basic questions. ... [Read full article on BBC ]
Wednesday 22nd of March 2017 09:37:35 PM
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....“Efforts must be sustained to improve detection of foreign bribery and achieve stronger enforcement of its anti-bribery legislation,” it said. The report praises the UK’s Serious Fraud Office (SFO) for recent successes in pursuing major corruption cases, including a multimillion-pound settlement with the engineering giant Rolls-Royce earlier this year. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 10:07:05 AM
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Latest Finance News related to Serious Fraud Office

Brexit could damage UK's fight against corruption, says OECD image
Source : Guardian [Read Article] Thursday 23rd of March 2017 10:07:05 AM
....“Efforts must be sustained to improve detection of foreign bribery and achieve stronger enforcement of its anti-bribery legislation,” it said. The report praises the UK’s Serious Fraud Office (SFO) for recent successes in pursuing major corruption cases, including a multimillion-pound settlement with the engineering giant Rolls-Royce earlier this year. ...
Libor expert witness texted for help image
Source : BBC [Read Article] Wednesday 22nd of March 2017 09:37:35 PM
. A prosecution witness called by the Serious Fraud Office (SFO) as an expert on trading has admitted texting friends in the middle of his trial evidence to ask basic questions. ...
'Brothers bling': lawsuit puts Nick and Christian Candy in spotlight image
Source : Guardian [Read Article] Saturday 18th of March 2017 09:00:35 AM
.... With the combined legal bills for both parties believed to be more than £10m, the process has dented not only Holyoake’s pockets but his own standing. As the Candys have been quick to point out, he was investigated, (though never charged) by the Serious Fraud Office over the 2010 collapse of his fish importing business British Seafood. ...
Sir Martin Sorrell's £42m payout takes earnings to £210m in five years image
....Among other companies publishing details of pay deals on Thursday was Rolls-Royce, which paid annual bonuses to its executive for the first time in three years. Its chief executive, Warren East, who is leading the clean-up operation of the engine-maker after its £671m charge to settle bribery and corruption charges with the Serious Fraud Office and authorities in the US and Brazil, received a £916,000 bonus taking his total pay to £2m. ...
Topshop owner to double contributions to plug pension deficit image
Source : Guardian [Read Article] Sunday 5th of March 2017 03:28:55 PM
.... The collapse of the retailer is still being investigated by the Insolvency Service, which could recommend that former directors of BHS are banned from being company directors in Britain. The Financial Reporting Council is also looking into the collapse, while the Serious Fraud Office is also considering whether to launch a formal investigation. ...
Property tycoon denies threatening business partner’s pregnant wife image
Source : Guardian [Read Article] Wednesday 1st of March 2017 08:09:33 PM
....He described repeated efforts over a two-year period to recover the money. Holyoake, who was investigated but not charged by the Serious Fraud Office over the collapse of his fish importing business, British Seafood, was only able to make the payment after selling Grosvenor Gardens House, his Belgravia development, in February 2014. ...
Dominic Chappell to fight legal action forcing him to pay BHS pensions image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:44:02 PM
.... The collapse of BHS is still being investigated by the Insolvency Service which could recommend that former directors of BHS are banned from being company directors in Britain. The Financial Reporting Council is also looking into the collapse, while the Serious Fraud Office is also considering whether to launch a formal investigation. ...
Barclays' profits almost triple but chairman says many challenges await image
Source : Guardian [Read Article] Thursday 23rd of February 2017 09:10:57 AM
....The bank, which has been scrambling to repair its reputation since the 2012 Libor rate-fixing scandal, is fighting the US Department of Justice over a decade-old mortgage bond misselling scandal. It is also awaiting the outcome of an investigation by the UK’s Serious Fraud Office into the way it raised funds during the height of the banking crisis. ...
Rolls-Royce posts biggest loss in its history image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:28:53 AM
....It included a £4. 4bn writedown on the value of financial hedges Rolls uses to protect itself against currency fluctuations and a £671m charge for the penalties the company has agreed to pay to settle bribery and corruption charges with the Serious Fraud Office (SFO), the US Department of Justice, and Brazilian authorities. ...
Former Rolls-Royce boss questioned in corruption inquiry image
Source : Guardian [Read Article] Friday 10th of February 2017 11:31:33 AM
. Sir John Rose, the former chief executive of Rolls-Royce, has been questioned under caution as part of the Serious Fraud Office’s investigation into a corruption scandal at the engineering group. ...
Developer claiming £132m   from Candy brothers is accused of 'serial dishonesty' image
....Watching proceedings from the public gallery were two investors still owed money following the collapse of British Seafood, which collapsed in 2010 with debts of £250m. The Serious Fraud Office closed an investigation three years ago without pressing charges. ...
Rolls-Royce faces civil service inquiry over UK state funding image
Source : Guardian [Read Article] Sunday 5th of February 2017 03:29:06 PM
....She added that Rolls-Royce should be blocked from receiving any support from UKEF for three years after confessing to the bribery. Rolls-Royce struck deals with the Serious Fraud Office and prosecutors in the US and Brazil last month to end long-running investigations. ...
Ex-UBS and Citigroup trader jailed over Libor seeks review of case image
Source : Guardian [Read Article] Tuesday 31st of January 2017 07:00:15 AM
....The move, which could be made as soon as Tuesday, comes after the former UBS and Citigroup employee failed in a previous attempt to have his conviction overturned, and was then blocked last year from appealing to the supreme court. Hayes, the first person convicted of rigging Libor (the London interbank offered rate), had originally confessed to the Serious Fraud Office (SFO) to running a “dishonest” scheme and agreed to cooperate with the agency. ...
Booker Tesco deal has hedge funds in a funk image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
.... But elsewhere, Conn really is in the middle of a seriously unfortunate trot. He was the senior independent director at Rolls-Royce in 2010 – and he was on the board from 2005 to 2014 – which suddenly looks awkward following Lord Justice Leveson’s judgment this month that the company was aware in 2010 of corruption allegations within the company, but decided not to notify the Serious Fraud Office. ...
After the Italian job, BT boss must make sure success doesn’t blow up in his face image
....The history of accounting scandals shows that companies often take a long time to recover from such blows. Tesco, for example, is still under investigation by the Serious Fraud Office and facing a lawsuit from shareholders more than two years after it found a black hole in its accounts. ...
Tesco to buy Budgens and Londis owner Booker in £3.7bn deal image
Source : Guardian [Read Article] Friday 27th of January 2017 07:18:45 AM
.... In the years since, the grocer has been battered by the discounters and by the move to online and convenience shopping. Leahy’s successor, Philip Clarke, was forced to step down after a series of profit warnings and the grocer was then engulfed in an accounting scandal that is still the subject of a Serious Fraud Office investigation. ...
Hurrah for the industrial strategy. At last Britain has a plan image
Source : Guardian [Read Article] Sunday 22nd of January 2017 06:59:23 AM
.... If Brexit and Trump weren’t happening, the tale of bribery and corruption at Rolls-Royce over three decades would have been front-page news for days. To recap: a company long deemed one of the UK’s finest agreed to pay £671m in penalties via a deferred prosecution agreement (DPA) with the Serious Fraud Office and parallel agreements in Brazil and the US. ...
Rolls-Royce sent agent to 'retrieve' document from India tax office image
Source : Guardian [Read Article] Friday 20th of January 2017 01:52:09 PM
....The agent told the engineering giant that he paid a large sum to get the document from authorities, avoiding the company being banned from operating in India for 25 years. The revelation is contained in court documents filed by the Serious Fraud Office as part of the admission by Rolls-Royce that it had acted corruptly in 12 countries, including India. ...
What did Rolls-Royce directors know about bribery scandal? 'No comment' image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:00:30 AM
. The leadership of Rolls-Royce knew in 2010 about allegations regarding corruption within the company but decided not to notify the Serious Fraud Office, according to the damning judgment on the scandal from Lord Justice Leveson. ...
Calls for ex-Rolls-Royce CEO to lose knighthood after firm admits bribery image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:48:18 PM
.... The manufacturing multinational has been hit with the biggest criminal penalty in British history after being ordered to pay £691m in fines. On Monday the company announced the settlement with the Serious Fraud Office (SFO), after accepting that its defence and civil aerospace divisions had paid bribes and corrupted officials and politicians around the world. ...
He's had three strikes. Surely Pearson's chief executive is out? image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:19:40 PM
....A senior high court judge called Rolls-Royce’s conduct, for which it will pay £671m in penalties, “egregious criminality over decades”. Sir Brian Leveson also said Rolls-Royce had known about potential corruption in 2010 but decided not to notify the Serious Fraud Office. ...
Rolls-Royce: questions remain despite £671m bribery settlement | Nils Pratley image
.... It has changed its senior management. And, under the terms of the deferred prosecution agreement (DPA) with the Serious Fraud Office, it will improve its behaviour on pain of getting properly whacked. ...
Rolls-Royce apologises in court after settling bribery case image
Source : Guardian [Read Article] Tuesday 17th of January 2017 01:29:50 PM
....The settlement was reached with investigators from three countries – the UK, US and Brazil – who five years ago started to scrutinise allegations that the firm had hired middlemen to pay bribes to win contracts. Richard Whittam, a QC for the Serious Fraud Office, detailed the findings of what he said was the “largest individual investigation conducted by the SFO to date”. ...
Rolls-Royce’s SFO settlement is big, ugly and serious image
Source : Guardian [Read Article] Monday 16th of January 2017 07:24:51 PM
. The City had tended to be relaxed about Rolls-Royce’s run-in with the Serious Fraud Office’s bribery investigators. ...
Rolls-Royce to pay £671m over bribery claims image
Source : Guardian [Read Article] Monday 16th of January 2017 05:32:13 PM
....Robert Barrington, the executive director of Transparency International, said “there must be a prosecution of individuals” in addition to the settlement. In deals announced on Monday, Rolls-Royce said it would pay £497m to the UK Serious Fraud Office (SFO), subject to approval by the high court. ...
US charges three foreign exchange traders image
Source : BBC [Read Article] Tuesday 10th of January 2017 11:28:46 PM
.... . In March 2016 the UK's Serious Fraud Office (SFO) closed its criminal investigation into allegations of price-rigging in the foreign exchange market. ...
How attempts to save BHS, and 11,000 jobs, were doomed by chaos and mistrust image
Source : Guardian [Read Article] Saturday 31st of December 2016 04:00:32 PM
.... Although the parliamentary committee led by Labour MPs Iain Wright and Frank Field has delivered its verdict, there are other investigations still underway. The Pensions Regulator, the Insolvency Service, the Financial Reporting Council, HM Revenue & Customs and the Serious Fraud Office are all still looking into the circumstances surrounding the collapse of the 88-year-old chain. ...
Rolls-Royce exploited US sanctions loopholes to trade with Iran image
Source : Guardian [Read Article] Wednesday 21st of December 2016 10:30:15 AM
....A joint investigation by the Guardian and BBC Panorama has documented Rolls-Royce’s widespread use of middlemen – commercial advisers or agents in industry parlance – in an effort to secure high-value contracts around the world. The company has been under investigation by the Serious Fraud Office over allegations it paid bribes through intermediaries since 2012. ...
Rolls-Royce winning contracts legitimately key to growth, says CEO image
Source : Guardian [Read Article] Wednesday 14th of December 2016 08:08:31 PM
. The chief executive of Rolls-Royce, which is under investigation by the Serious Fraud Office over bribery allegations, has said winning business ethically plays a key role in his plans for future growth. ...
Football tax review called for by HMRC chief image
Source : BBC [Read Article] Wednesday 7th of December 2016 04:12:44 PM
....The officials also told the PAC that HMRC had seven criminal investigations under way and had made arrests following publication of the Panama Papers, which provided a huge amount of information about the tax affairs of wealthy individuals. The action follows the formation of an inter-agency task force six months ago, including HMRC, the FCA, the Serious Fraud Office and National Crime Agency. ...
SFO will not charge former Tesco boss over accounting scandal image
Source : Guardian [Read Article] Tuesday 29th of November 2016 12:38:53 AM
....Tesco’s former chief executive Philip Clarke will not face charges in relation to an accounting scandal at the supermarket chain, it has been confirmed. Clarke’s lawyer, David Corker, said on Monday that he had received a letter from the Serious Fraud Office (SFO) informing him of the decision. ...
Tata to sell UK speciality steels business in £100m deal image
Source : Guardian [Read Article] Monday 28th of November 2016 11:39:17 AM
....The speciality steels business employs 1,700 people and produces materials for the aerospace, automotive and oil and gas industries. It is under investigation by the Serious Fraud Office over forgery allegations, which led to the managing director of the business being suspended. ...
Companies House abandons plan to delete 2.5m public records image
Source : Guardian [Read Article] Thursday 24th of November 2016 04:59:54 PM
....The forum’s solicitors, Leigh Day, said the plans “would have seen thousands of victims of asbestos exposure denied justice”. Police investigators, the National Crime Agency, the Serious Fraud Office, lawyers, journalists and bank compliance teams all make extensive use of the data held by Companies House, with many searches involving dissolved companies and their directors. ...
Ex-Barclays banker alleges unfair dismissal after interview with SFO image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 05:49:44 PM
. A former senior Barclays banker claims he was unfairly dismissed after the Serious Fraud Office shared with his employer a 900-page transcript of interviews he gave to criminal investigators probing the bank, a tribunal has heard. ...
SFO asks for private hearing in unfair dismissal claim by ex-Barclays banker image
. The Serious Fraud Office will on Monday ask a London employment tribunal to hear an unfair dismissal claim by a former senior banker at Barclays in private. ...
Tesco chief warns brands not to make UK shoppers pay for weak pound image
Source : Guardian [Read Article] Thursday 17th of November 2016 06:49:32 PM
....Lewis is leading the turnaround of the grocer, which faced the biggest crisis in its history in 2014 when a whistleblower alerted him to an accounting scandal that revealed profits had been artificially inflated. Following a Serious Fraud Office investigation, three former Tesco executives will face trial on fraud charges next year. ...
Ex-Autonomy director accused by US prosecutors of elaborate financial fraud image
....Despite claims that Hogenson attempted to blow the whistle, British regulators did not open a major investigation until February 2013, after HP had made its first complaint about accounting improprieties at Autonomy. The Serious Fraud Office, which led the investigation, dropped the case in January 2015, citing “insufficient evidence for a realistic prospect of a conviction”. ...
BHS scandal: Dominic Chappell arrested amid tax investigation image
Source : Guardian [Read Article] Sunday 13th of November 2016 11:08:49 AM
....The Pensions Regulator has started legal proceedings in an attempt to fill the BHS pension deficit, while the Financial Reporting Council and the Insolvency Service are also investigating the scandal. The Serious Fraud Office is conducting preliminary inquiries in order to consider whether to launch a formal investigation. ...
Three bank employees arrested in UK insider trading investigation image
Source : Guardian [Read Article] Friday 11th of November 2016 06:25:18 PM
....The Panama Papers taskforce was announced in April, one week after the simultaneous publication of the first leaked files by media outlets in more than 80 countries. It brought together investigators, compliance specialists and analysts from HM Revenue and Customs, the NCA, the Serious Fraud Office and the FCA. ...
Rolls-Royce 'made secret payments' image
Source : BBC [Read Article] Monday 31st of October 2016 05:01:05 PM
.... He says he has "never taken nor paid any bribes". In 2014, both Sudhir and Bhanu Choudhrie were arrested as part of the Serious Fraud Office investigation into Rolls-Royce. ...
Tesco hit with £100m damages claim image
Source : BBC [Read Article] Monday 31st of October 2016 03:05:50 PM
....Tesco declined to comment on the case. The Serious Fraud Office (SFO) has charged three former Tesco executives with fraud and false accounting as a result of the irregularities. ...
Older leaseholders who fought for right to manage their block – and won image
Source : Guardian [Read Article] Saturday 15th of October 2016 06:00:07 AM
....FirstPort is part of a complex web of companies that is ultimately controlled by property tycoon Vincent Tchenguiz and the Tchenguiz Family Trust. Peverel went into administration in 2011 when a bank loan was called in shortly after Vincent Tchenguiz and his brother Robert were arrested by the Serious Fraud Office. ...
Tesco faces UK legal action over accounting scandal image
Source : BBC [Read Article] Sunday 2nd of October 2016 06:36:51 PM
....Claimants included pension funds from the UK, Europe and the US as well as general asset managers, he said. The claim comes a month after the Serious Fraud Office (SFO) charged three former Tesco executives with fraud and false accounting as part of a continuing criminal investigation. ...
Ex-Tesco executives deny fraud charges image
Source : BBC [Read Article] Thursday 22nd of September 2016 11:32:09 AM
....The former executives were released on bail and must appear at Southwark Crown Court on 20 October for a plea hearing. Mr Rogberg, of Chiselhampton, near Oxford, Mr Bush, of High Wycombe, Buckinghamshire, and Mr Scouler, of St Albans, Hertfordshire, were charged earlier this month by the Serious Fraud Office (SFO). ...
Bosses could face jail for failure to prevent fraud image
Source : BBC [Read Article] Monday 12th of September 2016 04:20:13 AM
.... . David Green, director of the Serious Fraud Office, said while banker Tom Hayes was the first person to be convicted for Libor fixing his employers were only held to account for his actions in a US court, where the law makes a prosecution easier. ...
Three charged over Tesco accounts fraud image
Source : BBC [Read Article] Friday 9th of September 2016 11:37:30 AM
....Three former Tesco executives have been charged as part of a continuing investigation into accounting irregularities at the supermarket giant in 2014. Carl Rogberg, Christopher Bush and John Scouler have been charged with fraud and false accounting, the Serious Fraud Office (SFO) said. ...
Former Tesco directors charged with fraud over accounting scandal image
Source : Guardian [Read Article] Friday 9th of September 2016 11:35:32 AM
....Carl Rogberg, the former finance director of Tesco UK, Christopher Bush, the former managing director of Tesco UK, and John Scouler, the former commercial director for food, have all been charged with one count of fraud by abuse of position and one count of false accounting. A statement from the Serious Fraud Office said the alleged activity occurred between February and September 2014. ...
Under fire image
Source : BBC [Read Article] Wednesday 7th of September 2016 10:09:07 AM
....A year later and Hellawell was gone - announcing his resignation on BBC Radio 4's Today programme over Mr Blunkett's decision to downgrade cannabis from a Class B to a Class C drug. In May 2006, he became chairman of pharmaceuticals business Goldshield, which had been one of five companies charged by the Serious Fraud Office with conspiracy to defraud a month earlier. ...
The police chief battling cybercriminals from Russia and Ukraine image
Source : Guardian [Read Article] Saturday 27th of August 2016 06:00:00 AM
....The 40,000 reports to Action Fraud every month are whittled down to ones where the police think there are “actionable leads”. Some go up to the National Crime Agency or the Serious Fraud Office, some are pushed out to the other 43 police forces across the UK, while the City of London police tackle the rest. ...
Serious Fraud Office opens Airbus corruption investigation image
Source : BBC [Read Article] Sunday 7th of August 2016 10:14:09 PM
. The UK's Serious Fraud Office (SFO) has launched an investigation into allegations of "fraud, bribery and corruption" in the civil aviation business of Airbus. ...

Theresa May drawn into David Cameron honours row after she accepted £35,000 from Tory donors whose names were taken off list
 image
....Mr Spencer’s peerage is understood to have been blocked because of  lingering concerns about the Libor scandal, when his firm Icap was fined £55million by regulators in 2013, despite no suggestion that directors at Icap were aware of the scandal. An investigation by the Serious Fraud Office into the Libor scandal is still open, although Icap is not involved. ...
BHS: Philip Green attacks 'kangaroo court' inquiry image
Source : BBC [Read Article] Saturday 30th of July 2016 11:06:59 PM
....". Mr Field responded that he hoped to meet with the pensions regulator and the head of the Serious Fraud Office this week to discuss what progress is being made to resolve the matter. ...
Libor rigging trial: Former Barclays bankers jailed image
Source : BBC [Read Article] Thursday 7th of July 2016 02:38:17 PM
.... . The Serious Fraud Office (SFO), which brought the investigation, pointed to comments from the judge that the bankers' behaviour showed "an absence of integrity". ...
What is the Libor scandal? image
Source : BBC [Read Article] Thursday 7th of July 2016 05:58:31 AM
. The Serious Fraud Office (SFO) has said it will seek a retrial of two former Barclays traders over their involvement in the Libor rate-rigging scandal. ...
SFO seeks retrial of two former Barclays Libor traders image
Source : BBC [Read Article] Wednesday 6th of July 2016 11:50:00 AM
. The Serious Fraud Office (SFO) has said it will seek a retrial of two former Barclays traders over their involvement in the Libor rate-rigging scandal. ...
Three convicted in Libor rigging trial image
Source : BBC [Read Article] Monday 4th of July 2016 11:35:42 AM
....Barclays declined to comment. The Serious Fraud Office (SFO), which brought the investigation, said: "The key issue in this case was dishonesty. ...
Jailed JJB Sports boss Chris Ronnie let off £105,000 payment image
Source : Guardian [Read Article] Thursday 23rd of June 2016 06:26:12 PM
....Ronnie’s defence team will now apply for that amount to be formally recognised and the confiscation order satisfied. A spokesman for the Serious Fraud Office, which took Ronnie to court, said it was expected that the amount handed over by Ronnie would be accepted as sufficient and he would avoid the additional five years in prison. ...
DfT probes Skoda over emissions: VW-owned Czech carmaker could be prosecuted image
....All of the cars have “defeat devices” that enable them to cheat regulatory checks on how much nitrogen oxide they admit. The Serious Fraud Office and the Competition and Markets Authority are looking into the matter, but have yet to open formal investigations. ...
BHS collapse could cost taxpayer £35m image
Source : Guardian [Read Article] Thursday 9th of June 2016 12:10:47 PM
....Related: The six key questions that MPs must ask Sir Philip Green. The Insolvency Service and the Pensions Regulator is also investigating the collapse of BHS, while the Serious Fraud Office is considering launching a probe. ...
Rolls-Royce falls 3% on reports SFO extends investigation to Nigeria image
Source : Guardian [Read Article] Thursday 19th of May 2016 09:06:03 AM
. Rolls-Royce is on the slide following a report that the Serious Fraud Office has widened its investigation into the aero engine-maker. ...
The Tesco brand was badly dented, but it will recover, says boss image
Source : Guardian [Read Article] Saturday 14th of May 2016 03:00:06 PM
.... As if that was not enough of a challenge, within three weeks Lewis was engulfed in the biggest crisis in the company’s history when a whistleblower alerted him to an accounting scandal. Since then, the Serious Fraud Office has launched an investigation into Tesco, the company made a £6. ...
RBS: no evidence of criminal behaviour, rule prosecutors image
Source : Guardian [Read Article] Thursday 12th of May 2016 12:56:29 PM
.... Goodwin had no right of appeal, and in accordance with custom was given no right to make representations to the forfeiture committee, a group of four permanent secretaries. The Crown Office said its investigation had required co-operation from the Financial Conduct Authority - which replaced the FSA - the Prudential Regulation Authority, part of the Bank of England, as well as the Serious Fraud Office, the Financial Reporting Council and the Federal Reserve Bank of New York. ...
Ex-Barclays banker revealed as pleading guilty to Libor rigging image
Source : Guardian [Read Article] Wednesday 11th of May 2016 06:18:00 PM
. Peter Johnson, a former senior Barclays banker, pleaded guilty in October 2014 to conspiring to manipulate Libor, the Serious Fraud Office has said. ...
BHS collapse: owner sold main distribution centre to pay off loan image
Source : Guardian [Read Article] Tuesday 10th of May 2016 07:09:32 PM
....The collapse of BHS has caused controversy because the retailer has been saddled with the pensions deficit despite Green and other investors collecting more than £580m in dividends, rent and interest payments during his ownership, and Retail Acquisitions receiving payments of more than £25m from BHS over the last 13 months. Two influential committees of MPs and the Insolvency Service have launched investigations into BHS, while the Serious Fraud Office is also examining whether there are grounds to launch a formal investigation. ...
BP hired firm linked to bribery scandal, Panama Papers reveal image
Source : Guardian [Read Article] Tuesday 10th of May 2016 02:45:32 PM
....A document included in the leak from the offshore law firm Mossack Fonseca reveals that in 2014 the oil company hired Unaoil to undertake work at the Kirkuk oilfield in northern Iraq. Unaoil found itself at the centre of an international bribery scandal earlier this year after its own leak of internal emails resulted in raids directed by the Serious Fraud Office. ...
BP hired firm linked to bribery scandal, Panama Papers reveal image
Source : Guardian [Read Article] Tuesday 10th of May 2016 02:45:32 PM
....A document included in the leak from the offshore law firm Mossack Fonseca reveals that in 2014 the oil company hired Unaoil to undertake work at the Kirkuk oilfield in northern Iraq. Unaoil found itself at the centre of an international bribery scandal earlier this year after its own leak of internal emails resulted in raids directed by the Serious Fraud Office. ...
Pensions Regulator says it learned about BHS sale in the papers image
Source : Guardian [Read Article] Monday 9th of May 2016 07:03:17 PM
....A string of investigations have been launched into the collapse of BHS. On top of the inquiries by MPs, the Insolvency Service is examining BHS and the Serious Fraud Office is considering whether there are grounds to launch a formal investigation. ...
How Mossack Fonseca missed warning signs of £70m boiler room fraud image
.... He admitted his part in the swindle, and was jailed for two and a half years. The Serious Fraud Office caught up with May, too, who was sentenced to seven years and four months. ...
BHS owner forced out of previous venture in row over missing money image
....The allegation about Olivia Petroleum’s finances will raise further questions about the due diligence conducted by the billionaire Sir Philip Green, who sold BHS to Chappell’s consortium Retail Acquisitions for £1 last year and is under mounting pressure to explain his actions. The Serious Fraud Office is also understood to be conducting preliminary inquiries into the activities of Chappell’s Retail Acquisitions consortium leading up to the deal. ...
MPs examining BHS offer to cooperate with investigators image
Source : Guardian [Read Article] Wednesday 4th of May 2016 04:18:46 PM
. MPs looking into the demise of BHS have written to the insolvency regulator and the Serious Fraud Office offering to cooperate with their investigations. ...
Man jailed over Libor seeks 'miscarriage of justice' review image
Source : Guardian [Read Article] Wednesday 4th of May 2016 03:10:44 PM
....Hayes, who is in Belmarsh prison, has been ordered to pay £878,806 after a ruling in the Old Bailey that the money was the proceeds of crime. The Serious Fraud Office was seeking up to £2. ...
Insolvency Service to investigate BHS's slump into administration image
Source : Guardian [Read Article] Tuesday 3rd of May 2016 05:36:44 PM
....The work and pensions committee inquiry will begin on Monday with evidence from the Pensions Regulator and the Pension Protection Fund, the industry-backed body that is likely to have to make up BHS’s pension deficit of £571m. The Serious Fraud Office is also reported to be examining the flow of money in and out of BHS after Green sold the business for £1 to Retail Acquisitions more than a year ago. ...
Insolvency Service to investigate BHS's slump into administration image
Source : Guardian [Read Article] Tuesday 3rd of May 2016 05:36:44 PM
....The work and pensions committee inquiry will begin on Monday with evidence from the Pensions Regulator and the Pension Protection Fund, the industry-backed body that is likely to have to make up BHS’s pension deficit of £571m. The Serious Fraud Office is also reported to be examining the flow of money in and out of BHS after Green sold the business for £1 to Retail Acquisitions more than a year ago. ...
Senior Barclays executive denies knowledge of Libor rate rigging image
Source : Guardian [Read Article] Wednesday 27th of April 2016 09:07:17 PM
....Former Barclays traders Stylianos Contogoulas, Jay Merchant, Alex Pabon and Ryan Reich and former Barclays rate submitter Jonathan Mathew are standing trial after all pleading not guilty to one charge of conspiracy to defraud by manipulating US dollar Libor rates between June 2005 and September 2007. In its third trial of individuals accused of rigging the London interbank offered rate, a benchmark for trillions of financial contracts and household loans, Britain’s Serious Fraud Office alleges the five men were dishonest when they asked colleagues to submit rates to benefit their trading positions. ...
Ex-Libor chief accepted claim that rate could not be rigged, court told image
....Testifying at the trial of five former Barclays employees accused of conspiring to manipulate Libor, the former British Bankers’ Association (BBA) director John Ewan said he had not been concerned that banks were trying to influence the rate. The Serious Fraud Office has charged Jonathan Mathew, a former Barclays rate submitter, and his former colleagues at the bank – derivatives traders Stylianos Contogoulas, Jay Merchant, Alex Pabon and Ryan Reich – each with one count of conspiracy to defraud by manipulating US dollar Libor rates between June 2005 and September 2007. ...
Tesco warns on profit growth in tough retail market image
Source : Guardian [Read Article] Wednesday 13th of April 2016 07:34:27 AM
....Lewis was parachuted in as chief executive following the sacking of Philip Clarke. The business was subsequently engulfed in an accounting scandal after a whistleblower revealed supplier payments were mishandled – a matter that is the subject of an ongoing criminal investigation by the Serious Fraud Office – when Clarke was in charge. ...
Overseas territories spared from UK law on company registers image
Source : Guardian [Read Article] Tuesday 12th of April 2016 06:26:45 PM
.... He pointed out that the prime minister had said a public registry was necessary to help combat crime. In a statement on Monday, David Cameron said all overseas territories apart from Anguilla and Guernsey had agreed to set up registries that were automatically open to law enforcement agencies, primarily the National Crime Agency and the Serious Fraud Office. ...
Ex-RBS Libor trader banned by FCA image
Source : Guardian [Read Article] Tuesday 12th of April 2016 11:42:56 AM
....RBS fired White and three other traders in late 2011 over their alleged role in the scandal. The Serious Fraud Office is continuing to investigate Libor, including the actions of former RBS traders. ...

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