News

SFO intercepts funds from sanctioned bank to return to international fraud victims

The Serious Fraud Office (SFO) will recover over £500,000 for the victims of a worldwide email fraud, after freezing money bound for a sanctioned Lebanese bank and securing High Court approval to use the unique case to trial a new approach to victim reparation. The money was stolen from victims through a scam orchestrated by […]

Serious Fraud Office charges former CEO and CFO of London Mining Plc with bribery

Today, at Westminster Magistrates’ Court, the Serious Fraud Office (SFO) charged London Mining Plc Chief Executive Officer Graeme Hossie, Chief Financial Officer Rachel Rhodes and international business consultant Ariel Armon with conspiring to make multiple corrupt payments to secure preferential treatment in Sierra Leone. London Mining Plc had operations in Brazil, China, Colombia, Greenland, Saudi […]

Serious Fraud Office charges three directors with fraud for forestry investment in Costa Rica

Today, the Serious Fraud Office (SFO) charged former company directors Stephen Greenaway, Paul Laver and Matthew Pickard with fraud in relation to a collapsed scheme where 3,500 UK investors lost millions of pounds.    For over eight years, Ethical Forestry Ltd operated tree plantations in Costa Rica and sold investments, starting at £12,000, in fast-growing […]

SFO charges luxury car dealer for withholding evidence

Today at Westminster Magistrates’ Court, the Serious Fraud Office (SFO) charged the self-styled multi-millionaire supercar salesman Thomas Hartley with withholding information from its ongoing fraud investigation. The SFO is currently investigating Raedex Consortium, a company that attracted thousands of investors in its car lease scheme over nine years, before it collapsed in 2021. As part […]

Implementation Update – May 2023: Altman Review

In April 2021, the Director of the Serious Fraud Office (SFO) commissioned Brian Altman KC to conduct a review into our handling of R v Woods & Marshall. As of May 2023, we are on track to implement all the recommendations in full.

SFO secures 10 month sentence for former London Capital & Finance Plc CEO

Today, at Southwark Crown Court, the Serious Fraud Office (SFO) secured a 10 month sentence (suspended for two years) for Michael Thomson, former Chief Executive Officer of London Capital & Finance Plc (LCF), following his breaching of a restraint order imposed on his bank account. The SFO had frozen Mr Thomson’s assets as part of […]

HMCPSI publishes report on SFO’s case progression

Today, a report by His Majesty’s Crown Prosecution Service Inspectorate (HMCPSI) has been published into the SFO’s case progression. HMCPSI is responsible for inspecting the SFO and this report follows up on progress against its 2019 inspection.

SFO secures sentences totalling over 13 years for executives behind $500m bank fraud

Today at Southwark Crown Court, Nasser Alaghband, the CEO of British steel trading company Balli Steel Plc, was sentenced to six and a half years in prison, while two senior executives received sentences of over three years each.

SFO secures over $7 million from convicted Brazilian money launderer

Today, the SFO recovered over $7,699,204 from convicted money launderer, Mario Ildeu de Miranda, after its investigation revealed he had channelled criminal proceeds through multiple international bank accounts using several different company names.

SFO recovers criminal assets from £740m property fraud concealed through school donation

Today, the SFO confiscated an additional £92,500 from Achilleas Kallakis, one of the fraudsters behind the UK’s largest ever mortgage fraud case – ten years after his conviction.

Serious Fraud Office secures three convictions in $500 million trade finance fraud

Today at Southwark Crown Court, the Serious Fraud Office (SFO) secured convictions of two executives of British steel trading business, Balli Steel Plc., on six counts of fraud. Nasser Alaghband, CEO of Balli Steel, had pleaded guilty to one count of fraudulent trading, ahead of the 20-week trial.  

Three arrested in first Serious Fraud Office searches of 2023

This morning, the Serious Fraud Office (SFO) searched three premises across England, with support from National Crime Agency and local police colleagues. Three arrests were made and individuals are being questioned.