News
Press Release Archive
2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999
17 July 2008
SFO publishes its annual report for 2007/08
The Director of the Serious Fraud Office has submitted his annual report to the Attorney General for presentation to Parliament today. The report covers the period 5 April 2007 to 4 April 2008.
11 July 2008
R v Goldshield Plc and others
Serious Fraud Office to appeal the judgement of Mr Justice Pitchford handed down at Southwark Crown Court today.
1 July 2008
Fraud investigators search offices and homes in suspected asset stripping case
Serious Fraud Office investigators, together with officers from Staffordshire Police, West Midlands Police and Greater Manchester Police conducted searches today at five addresses in connection with an investigation into Boston & Maine, a business partnership based in Staffordshire.
1 July 2008
Severn Trent Water fined £2 million in fraud action
Severn Trent Water Ltd has been fined £2 million at the Central Criminal Court today for providing false leakage data to the industry regulator Ofwat. This follows a prosecution brought by the Serious Fraud Office earlier this year. Severn Trent Water (“STW”) had admitted two offences under the Water Industry Act 1991.
10 June 2008
SFO press statement re Review of the Serious Fraud Office by Jessica de Grazia.
The Serious Fraud Office today welcomed the results of the wide-ranging review of the way the SFO approaches its cases, recently concluded by former senior New York City prosecutor Jessica de Grazia.
6 June 2008
Njall Hardarson pleads guilty to fraudulent trading
Njall Hardarson, a Manchester based businessman, pleaded guilty today at Ipswich Crown Court to one count of Fraudulent Trading
6 June 2008
Position of SFO Deputy Director discontinued
As a result of restructuring the senior management team within the Serious Fraud Office the position of Deputy Director has disappeared with effect from the end of May.
5 June 2008
RBG Resources plc: Former Directors jailed for $700m worldwide fraud.
Virendra Rastogi, Anand Jain and Gautam Majumdar have been sentenced today to a total of twenty five years and six months’ imprisonment for conspiracy to defraud in relation to their running of RBG Resources plc (“RBG”).
30 May 2008
Training consultants jailed for grants claims fraud
Three training company directors were given prison sentences today at Manchester Crown Court for rigging trainee course attendance numbers to gain Learning Skills Council funds.
22 May 2008
SFO appoints Chief Operating Officer
Director Richard Alderman has appointed Phillippa Williamson to the Serious Fraud Office senior management team with responsibilities for business operations. She joins the SFO on secondment from HM Revenue & Customs where she had considerable experience with Special Civil Investigations.
20 May 2008
Directors of Manchester computer parts firm Ravelle sentenced.
Raymond Nevitt, the driving force behind a £3 ¼ million fraud on trade creditors, has today been given a 45-month prison sentence at Manchester Crown Court. Two other former directors were given suspended sentences. Directors’ disqualifications were also imposed
16 May 2008
Former directors of Merseyside bottled gas business jailed after £45 million collapse of company.
Peter Bradley and Peter Stott have been sentenced today at Liverpool Crown Court to four years’ and two years’ imprisonment respectively for a fraud involving Bradley’s liquid petroleum gas company Alta Gas plc.
14 May 2008
Independent Financial Advisor charged over investor losses
A Lincoln-based private client financial advisor, whose business collapsed with debts of over £1.5 million, has been charged with offences in connection with his business MFC Finance Ltd.
24 April 2008
Serious Fraud Office appeal to go to House of Lords
(Re: Corner House Research and Campaign against Arms Trade v Director of the Serious Fraud Office) Today, the Administrative Court certified that there were points of law of general public importance and granted the Serious Fraud Office leave to appeal to the House of Lords. The SFO will be pursuing this appeal.
22 April 2008
RBG Resources plc: Former Directors convicted
Virendra Rastogi, Anand Jain and Gautam Majumdar have been found guilty of conspiracy to defraud in relation to their running of RBG Resources plc (“RBG”). They are remanded in custody pending sentencing on 5th June.
22 April 2008
Serious Fraud Office to appeal against Judgment
(Re: Corner House Research and Campaign against Arms Trade v Director of the Serious Fraud Office) The Serious Fraud Office has today informed Corner House Research and Campaign against Arms Trade that it is to seek permission to appeal to the House of Lords against the judgment of the Divisional Court made on 10 April following the Judicial Review of the decision made in December 2006 to discontinue the SFO investigation into BAE Systems Plc and the Al Yamamah defence contract with the Kingdom of Saudi Arabia.
11 April 2008
Accountants jailed for $200m investment fraud and conspiracy to corrupt a US official.
Shinder Gangar and Alan White, former accountants, were given prison sentences today at Sheffield Crown Court for a high yield investment fraud promoted through their Dobb White & Co firm, based in the Midlands and for their part in a conspiracy to corrupt a US official.
27 March 2008
Directors of Manchester computer firm Ravelle convicted in a £3.25 million fraud on creditors.
Raymond Nevitt has been convicted at Manchester Crown Court of five counts of fraudulent trading. Jeremy Greene has been convicted of three counts. Kay Boardman had already pleaded guilty at a pre-trial hearing to one count. They are to be sentenced on a date during week commencing 28 April.
17 March 2008
NEW DIRECTOR OF THE SERIOUS FRAUD OFFICE APPOINTED
[The following press release has been issued by the Attorney General’s Office today] The Attorney General, the Rt. Hon Baroness Scotland QC, has appointed Richard Alderman to be Director of the Serious Fraud Office. Mr Alderman will succeed the present Director, Robert Wardle, on 21 April 2008.
22 February 2008
Accountants guilty in $200m investment fraud and conspiracy to corrupt a US official
Shinder Gangar and Alan White, former accountants were found guilty today of a high yield investment fraud promoted through their Dobb White & Co firm, based in the Midlands.
22 November 2007
Severn Trent Water to be prosecuted
The Serious Fraud Office has informed Severn Trent Water Ltd that it is to be charged with offences concerning the provision of false information to the industry regulatory body, Ofwat.
13 November 2007
Izodia plc – Court orders Gerald Smith to pay £41 million
Gerald Smith has today, at Inner London Crown Court, been ordered to pay nearly £41 million by way of confiscation and given 12 months to pay. He is currently serving eight years’ imprisonment handed down in September 2006 after he admitted he had misappropriated funds belonging to Izodia plc.
24 October 2007
Independent Insurance Trial: Former directors sentenced
This announcement confirms the sentences handed down today at Southwark Crown Court in relation to the Independent Insurance trial.
23 October 2007
Independent Insurance Group Plc: Briefing note
23 October 2007
Independent Insurance Group Plc: Former directors convicted
Michael Bright, Philip Condon and Dennis Lomas have been found guilty of conspiracy to defraud in relation to their running of Independent Insurance, of which they were directors. They are to be sentenced tomorrow morning.
11 October 2007
Three sentenced in IKEA supplies corruption case
A supplier and two former IKEA staff were jailed today at Birmingham Crown Court in a £1.3m bribes case to evade the retailer’s purchasing limits and to obtain orders for the supply of goods. Adam Hauxwell-Smith was sentenced to three years’ imprisonment. John Brown two years and Paul Hoult to thirteen months imprisonment.
17 July 2007
SFO publishes its annual report for 2006/7
SFO Director Robert Wardle has submitted his annual report to the Attorney General for presentation to Parliament on 17 July 2007. The report covers the period 5 April 2006 to 4 April 2007.
9 July 2007
SFO Director welcomes the OLAF annual activity report for 2006
SFO Director Robert Wardle on the occasion of the publication today of the OLAF Activity Report for 2006 commented:
8 June 2007
BAE SYSTEMS PLC
17 May 2007
FOUR JAILED OVER MULTI MILLION POUND FRAUD
Four people including three company directors have been sentenced today at Leeds Crown Court to various terms of imprisonment for a multi million pound fraud on three financial institutions. This followed a trial of two of the defendants at Leeds Crown Court which concluded yesterday with Jury verdicts of guilty. Two defendants had already admitted their parts in the fraud before trial each pleading guilty to six separate counts of fraudulent trading.
5 May 2007
SFO JOINS EU OPEN DAY TO MARK 50 YEARS ANNIVERSARY OF THE TREATY OF ROME
The Serious Fraud Office joined with anti-fraud agencies from throughout the EU member states, in partnership with OLAF at a public open day at the Berlaymont Centre in Brussels. Around a hundred thousand people visited the event; many of whom discovered from the anti-fraud representatives the various measures, powers and techniques applied in the investigation and prosecution of economic crime throughout the EU.
19 April 2007
STUART SPACEY ORDERED TO PAY £470,000 CONFISCATION
Stuart Spacey a convicted fraudster currently serving an 18 month term of imprisonment was in addition today ordered to pay a £470,053 confiscation order within three months or serve a further term of imprisonment for four years in default of payment of that order.
21 March 2007
Further action in the Torex investigation
In the course of its investigation into the affairs of Torex Retail Plc, the Serious Fraud Office, together with the City of London Police, have undertaken a number of further searches.
20 March 2007
INVESTMENT FRAUDSTER ORDERED TO PAY £4M CONFISCATION
On 15th March 2007 Michael Summers a convicted fraudster and currently serving a 4 year term of imprisonment was in addition ordered to pay a £4m confiscation order and serve 6 years consecutive in default of payment of that order.
16 March 2007
PRESTON WHITESIDE INSURANCE BROKERS JAILED FOR INSURANCE FRAUD
Two insurance brokers were sentenced today after defrauding hundreds of small businesses, predominantly in Northern Ireland, out of insurance premiums and after having created a multi-million pound uninsured risk vacuum. Paul Newton and Mathew Walker, who ran the insurance business Preston Whiteside in Doncaster, were sentenced to 15 months and 8 months imprisonment respectively after admitting their guilt to fraudulent trading. In addition, both were disqualified as company directors for 7 years.
20 February 2007
GEORGE STEEN SERVING SIX YEARS GETS THREE MORE ON SECOND CONVICTION
A serial fraudster was found guilty today of defrauding a further victim whilst he was on trial. A jury took ¾ hour to convict George Steen of defrauding Clinton Swaine in April 2003, whilst Steen was on trial for a conspiracy to defraud. George Steen fled to the Philippines in May 2003 to escape the authorities and the SFO and Sussex Police, with the assistance of the Philippine authorities had him brought back to the UK. HHJ Robbins sentenced George Steen today to 3 years imprisonment.
6 February 2007
Attorney General announces re-appointment of the Director of the SFO
The following announcement was issued today by the Attorney General’s Office, which is replicated below: The Attorney General has re-appointed Robert Wardle as Director of the Serious Fraud Office for a further year, until 20 April 2008. This means that in total Robert Wardle will have served five years as Director of the SFO.
30 January 2007
SFO opens investigation into Torex Retail Plc.
The Serious Fraud Office, together with the City of London Police, has commenced an investigation into the affairs of Torex Retail Plc, a company traded on AIM.
14 December 2006
BAE Systems Plc/Saudi Arabia
The Director of the Serious Fraud Office has decided to discontinue the investigation into the affairs of BAE SYSTEMS Plc as far as they relate to the Al Yamamah defence contract with the government of Saudi Arabia.
12 December 2006
Ravenhead Company Limited
The investigation into suspected fraud at the Ravenhead Company Limited, which went into administration in February 2001, has been closed for lack sufficient evidence.
22 November 2006
Legacies Wills & Probate case concluded
Today at Southwark Crown Court Barry George Williamson was acquitted of fraudulent trading. Williamson’s co directors, Paul William Nathaniel Flint and Nicholas Furr, pleaded guilty to the same charges last year and gave evidence for the Crown at Williamson’s trial. They were sentenced in July 2006.
20 November 2006
Carlton Cushnie pays up £10 million in compensation
Carlton Cushnie, former chairman and chief executive of the Versailles Group convicted in 2004 of defrauding investors in Versailles Traders Ltd/Trading Partners Ltd, has paid over £10 million in confiscation in one of the highest ever criminal confiscation orders ever satisfied.
2 November 2006
Company Director jailed for a development grant fraud and false accounting.
Edward Cosgrove was sentenced at Southwark Crown Court today to 4 years’ imprisonment after admitting he attempted to obtain by deception a grant of £84,000 from the Welsh Assembly Government and to raising false invoices of nearly £2 million to a trade finance firm in order to keep his ailing Deeside-based CD/DVD packaging business afloat.
11 September 2006
Izodia plc: Gerald Smith sentenced
Gerald Smith was sentenced today at Cambridge Crown Court to eight years’ imprisonment for misappropriating over £34 million belonging to Izodia plc and to false accounting. He has also been disqualified from acting as a company director for 15 years. He had pleaded guilty in April this year. Costs and confiscation have been put over to a date later this year to be confirmed
14 August 2006
£2 MILLION RETURNED TO PENSIONERS
Bjorn Stiedl, who was convicted in 2004 of defrauding £2 million from the pensioners of the Balfron Group, has paid over £2 million in compensation to the victims. The SFO has today authorised that the money be released to the fund trustees of the “Clarion Group Retirement and Dependants Benefits Scheme”.
11 August 2006
Final verdict in Mars bribery case
The remaining defendant in a case of bribery for service contracts between a Slough-based machinery maintenance firm and the confectionery company Mars sentenced at Reading Crown Court to four years’ imprisonment. Four other defendants were convicted of conspiracy to defraud Mars and corruption in December 2005.
14 June 2006
Imperial Consolidated Group – Five charged with fraud
Charges have been brought against five former directors of companies in the Imperial Consolidated Group, a global investment business that collapsed in 2002 with a shortfall of over £100 million in its UK operation.
5 May 2006
Guilty verdicts in Mars bribery case
Four people have been found guilty at Reading Crown Court in a case of bribery for service contracts between a Slough-based machinery maintenance firm and Mars, the confectionary company. All four have been given custodial sentences.
28 April 2006
$4m investment fraudster sentenced to 4 years
Michael Summers has today been sentenced at Bristol Crown Court to four years’ imprisonment for deceiving clients out of US $4.3 million in a fraudulent high-yield investment scheme.
27 April 2006
Fraud on the National Health Service. Appearance at Magistrates Court
Nine persons appeared at Bow Street Magistrates Court today on charges of conspiracy to defraud the National Health Service. Five companies also appeared on conspiracy to defraud charges. The case is transferred to Southwark Crown Court for first hearing on 11 May 2006.