Asil Nadir has been sentenced today to ten years' imprisonment. This follows his conviction this week of the theft of nearly £29 million pounds between 1987 and 1990 from Polly Peck International, the company he led until its collapse in 1990. The sentences relate to ten counts of theft contrary to section 1(1) of the Theft Act 1968.
Asil Nadir has been convicted of stealing millions of pounds from Polly Peck International, a multi-national company he built and led. Over three days at the Central Criminal Court the jury returned guilty verdicts on 10 counts of theft conducted been 1987 and 1990.
Three people involved in a fraud that targeted UK investors and ex-pats in Majorca have been convicted. Guilty verdicts have been returned at Bradford Crown Court on two of them. Another had already pleaded guilty prior to trial. Two individuals were acquitted of related money laundering charges.
The High Court has today handed down its judgment following judicial review proceedings heard in May 2012 brought against the Serious Fraud Office by Robert and Vincent Tchenguiz and companies and trusts through which their business was conducted. The SFO had conceded that serious mistakes were made in connection with the application for search warrants in this case but notes the reasoned tone of the judgment and the helpful comments it contains.
Further to our announcement on 2 July 2012, the Director of the Serious Fraud Office, David Green QC, is satisfied that existing criminal offences are capable of covering conduct in relation to the alleged manipulation of LIBOR and related interest rates.
Mr Paul Jennings (55), of Neston, Cheshire, a former CEO of Innospec Ltd, appeared before His Honour Judge Leonard QC at Southwark Crown Court and pleaded guilty to one charge of conspiracy to corrupt Iraqi public officials and other agents of the Government of Iraq.
The conviction last year of the GP Noble director and his imprisonment for eight years can now be published. With the conclusion today of the trial of two other defendants, reporting restrictions have been lifted over other trials conducted last year in relation to a £52 million pension fund fraud.
The SFO Director David Green QC has today decided formally to accept the LIBOR matter for investigation. Notes for editors: The Serious Fraud Office is a government department responsible for investigating and prosecuting serious and complex fraud.
Oxford Publishing Ltd to pay almost £1.9 million as settlement after admitting unlawful conduct in its East African operations03 July 2012
The Director of the Serious Fraud Office (SFO) has taken action in the High Court, which has resulted in an Order that Oxford Publishing Limited (OPL) pay £1,895,435 in recognition of sums it received which were generated through unlawful conduct related to subsidiaries incorporated in Tanzania and Kenya.
The Serious Fraud Office has been working closely with the Financial Services Authority during its investigation into recently reported issues in relation to LIBOR. Now that the investigation into the issue of regulatory misbehaviour has concluded, the SFO are considering whether it is both appropriate and possible to bring criminal prosecutions.
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