26 February 2015
Sentencing has been postponed until after the Judge has made a finding on the facts of the case. Witnesses will be called during a Newton hearing which is estimated to last five days. The SFO and Nottinghamshire Police have already contacted those witnesses required to attend the Newton hearing.
The SFO will apply for a confiscation order and a compensation order in this case. A confiscation hearing has been scheduled to begin on 17 August 2015, at the conclusion of which, the Judge will decide whether to grant compensation to the victims of these frauds and, if so, in what amount.
19 December 2014
Richard Clay and Kathryn Clark pleaded guilty to fraud charges. Please see the full press release; Guilty pleas in £50m investment fraud. A sentencing hearing has been provisionally set for 20 February 2015, at Southwark Crown Court.
04 July 2014
Kathryn Joy Clark and Richard Aston Clay appeared at Southwark Crown Court this afternoon at a Plea and Case Management Hearing. At this hearing Kathryn Clark pleaded guilty to two counts on the indictment, (counts two and four). Richard Clay pleaded not guilty to all six counts on the indictment which are as follows:
Counts 1, 3 and 5
Fraud, contrary to section 1 of the Fraud Act 2006
Counts 2, 4 and 6
Forgery, contrary to section 1 of the Forgery and Counterfeiting Act 1981
Bail conditions mean that both defendants have been tagged and subject to curfew. The trial is now listed 12 January 2015 at Southwark Crown Court.
22 January 2014
The trial of Richard Clay and Kathryn Clark, will take place at
Southwark crown court on Monday, 12 January 2015.
13 December 2013
Kathryn Clark and Richard Clay appeared at Southwark CC this morning and a PCMH has been set for Tuesday 6 May 2014. Bail conditions remain in place.
29 November 2013
Kathryn Clark and Richard Clay appeared on 29 November at Westminster Magistrates' Court for their first hearing and are on conditional bail. They are next due to appear on Friday 13 December at Southwark Crown Court.
22 November 2013
Fraud and forgery offences were brought against Kathryn Clark and Richard Clay on 22 November. For more information see press statement.
5 September 2013
The SFO would like to thank all those investors who have completed our online questionnaire. We are unable to respond to each one due to the volume of responses received but we can assure all those people that responded that your questionnaire response has been read by the case team.
The online questionnaire will now be deactivated. Anyone who believes that they have further information which may be useful to this investigation can contact the case team at this e-mail address. Please do not leave anonymous information - any information received will be treated in strict confidence. Please include the case reference ("BIJ01") in the subject header of your e-mail to ensure it comes to our attention promptly.
Further investigation updates will be posted on this site periodically.
11 April 2013
The Serious Fraud Office and Nottinghamshire Police are currently in the process of gathering evidence from those who responded to the survey placed on the SFO website in December 2012 and a separate survey sent to financial advisers. As a result of the information contained in the survey responses a number of potential witnesses have been identified and interviewed and a significant amount of potentially relevant documentation has been obtained.
The SFO is continuing to liaise with the FCA (formerly the FSA) in relation to their interest in matters arising from our investigation.
Anyone who invested in products sold by Arck LLP, HD Administrators LLP or any related companies and who has not filled in the online survey above is still encouraged to do so.
12 December 2012
The Serious Fraud Office, in conjunction with Nottinghamshire Police, is investigating allegations of serious fraud involving investments made in Arck LLP, HD Administrators LLP and other related companies. The Financial Services Authority (FSA) is also interested in matters arising from our investigation and information you provide to us may be passed on to the FSA.
We are requesting information from potential witnesses who have invested in these companies. If you have made such investments, we would be most grateful if you could fill in an online questionnaire using the following link: https://www.surveymonkey.com/s/TSG85JW
If you are a financial advisor who has clients who have invested in products offered by these companies, please email us at firstname.lastname@example.org and we will send you a separate questionnaire.
We recommend that you draft your answers in a word document and copy them into the questionnaire when you are ready to submit it. This is because, depending your computer settings, the questionnaire may not automatically save your draft answers if you do not complete the questionnaire in one session.
Your answers will help us understand the general nature of your evidence. We may then contact you to obtain a full witness statement for potential use in a criminal prosecution. Even if we do not obtain a witness statement from you, we will give you updates on developments in the criminal investigation as we are aware that you may be anxious about investments made in the companies we are looking into.
If you have any queries about this questionnaire, please email us at http://email@example.com.
Victim Support is an organisation which assists victims of crime. If you wish to contact them, their details are