The former treasurer of Spain’s ruling People’s Party (PP), in jail awaiting trial on charges of money-laundering and other crimes, has been granted provisional liberty with a bail of 200,000 euros ($231,820), a High Court spokeswoman said. Luis Barcenas has been in jail since June 2013 over a long-running corruption investigation which is a source […]

While much of the country was embarking on preparations for the festive season, in December 2014 three company directors were found guilty and sentenced to a combined 28 years in prison for their part in a £23m biofuel fraud. They were also disqualified from acting as directors for a combined total of 40 years and […]

The Hong Kong Securities and Futures Commission (SFC) has obtained certain interim injunctions in the Court of First Instance under section 213 of the Securities and Futures Ordinance. The interim injunctions freeze bank accounts that are suspected of having received money from investors as a result of alleged frauds known as “boiler rooms”, where unlicensed […]

BIRMINGHAM, Alabama – A Hoover man was charged today with fraud and money laundering in connection with an illegal Ponzi scheme in which investors lost more than $3 million, federal and state officials announced today. Bryan W. Anderson, 40, is charged with one count each of wire fraud, money laundering and securities fraud, according to […]

Despite all the news headlines around data breaches, hackers and identity theft, it is a little known fact that since 2013 over 1 billion consumer records have been stolen by hackers. The estimated cost of this data theft is a staggering $5 billion dollars a year, which inevitably gets passed down to consumers and merchants […]

SRA v Kamran Malik Summary: The Respondent was convicted of multiple counts of conspiracy to conceal/disguise/convert/transfer/remove criminal property in a ‘well-planned and systematic multi-million pound fraud against a number of financial institutions’ which the Respondent carried out with another person. The total sum generated by the fraud was £1,736,000. On 6 February 2014 the Respondent […]

The amazing tale of Mukhtar Ablyazov, a Kazakh oligarch alleged to have committed a multi-billion dollar fraud, was the subject of a seminar jointly hosted by Bedell Cristin and KPMG at the Pomme D’Or on 5 November 2014 attended by more than 100 bankers, trust professionals and corporate service providers. Chaired by Bedell Cristin Senior […]

Mortgage fraud was one of the main reasons of the collapse of the financial system Most of the largest fines are in relation to operations carried out by financial institutions in the lead up to, and in the wake of the mortgage-market collapse. Banking fraud is not a new phenomenon, neither is the fact that […]