Three men and a woman have appeared today before Westminster Magistrates' Court charged with two offences of conspiracy to corrupt. This follows a two-year investigation into allegations of corruption in relation to the tax affairs of Swift Technical Energy Solutions Ltd, a Nigerian subsidiary of the Swift Group of companies.
Weavering Hedge Fund: Criminal charges Criminal proceedings have been issued on 11 December by the Serious Fraud Office against Magnus Peterson by written charge. The first hearing in his case will take place at Westminster Magistrates' Court on 7 January 2013.
Today the Serious Fraud Office, with the assistance of the City of London Police, executed search warrants at three residential premises in Surrey (1) and Essex (2). Three men, aged 33, 41 and 47, have been arrested and taken to a London police station for interview in connection with the investigation into the manipulation of LIBOR.
A City trader has been jailed for 13 years after admitting he defrauded investors. Losses are estimated to be over £32 million. Former city stockbroker Nicholas David Andrew Levene (dob 23/04/1964), of Barnet, Hertfordshire, was sentenced today at Southwark Crown Court after pleading guilty on 24 September 2012 to 12 counts of fraud, one count of false accounting and one count of obtaining a money transfer by deception.
Today at the Central Criminal Court Asil Nadir was ordered to pay £5 million compensation to Polly Peck International Plc in respect of losses suffered by the company. The Hon Mr Justice Holroyde ordered that it be paid in two years and that a default prison sentence of 72 months is to apply for failure to comply with the order.
The National Audit Office has today published the report by the Comptroller and Auditor General who has qualified his audit opinion on the 2011-12 accounts of the Serious Fraud Office. This is in respect of payments in relation to redundancy terms agreed with the former Chief Executive Officer Phillippa Williamson by the previous Director Richard Alderman on 16 April 2012.
The Director of the Serious Fraud Office has today discontinued the investigation into the circumstances surrounding the collapse of Icelandic bank Kaupthing hf on the grounds that there is insufficient evidence to justify its continuation. The SFO will continue its close cooperation with the Special Prosecutor's Office in Reykjavik.
The Serious Fraud Office has reviewed its policies on facilitation payments, business expenditure (hospitality) and corporate self-reporting. The purpose is to: restate the SFO's primary role as an investigator and prosecutor of serious or complex fraud, including corruption; ensure there is consistency with other prosecuting bodies; and meet certain OECD recommendations.
A Gwent businessman and former company secretary of a firm that dealt in sporting guns has been jailed for 32 months after admitting he defrauded investors to prop up his family business. Losses are estimated to be over £8 million. Andrew Donald Litt (dob 16/06/55), of Newport, South Wales, was sentenced today at Cardiff Crown Court after pleading guilty on 9 August 2012 to two counts of fraudulent trading.
Two men and a woman were sentenced today to prison terms of up to nine years for their roles in an investment fraud conducted against expatriates in Majorca. Around £10 million was entrusted for claimed high return growth on the US stock market but none of it was invested.
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