The UK’s Serious Fraud Office (SFO) has charged ten individuals (who worked for two banks) with conspiracy to defraud for manipulating the Euro Interbank Offered Rate (EURIBOR). The defendants will appear before Westminster Magistrates’ Court on 11 January 2016. The SFO has indicated that it will charge other (as yet unnamed) individuals in relation to […]

The misuse of companies is an issue in almost every case investigated by the SFO as highlighted in the HM Treasury national risk assessment of ML In section 7 of the HM Treasury national risk assessment of ML the SFO has identified a number of instances in which ‘off the shelf’ companies have been used […]

Two firm directors who lost investors £50m in a scheme the Serious Fraud Office (SFO) branded “an elaborate scam” have been sentenced to a total of 12 years in prison. Richard Aston Clay was sentenced to ten years and ten months. Kathryn Clark was given a two year suspended sentence. Michael Cotter of law firm […]

The UK Serious Fraud Office (SFO) has published its Annual Report and Accounts for 2014-15. The Annual Report notes the start of 16 new investigations, which is an increase on the previous year and includes a number of high profile matters including Forex and Tesco.  The Report cites a conviction rate of 78% from prosecutions […]

A small company based in Rotherham could be about to make a dubious kind of history by being the first in the UK to strike a new form of plea deal in order to avoid prosecution on bribery allegations. Sarclad, which provides technology products to the metals industry and also has operations in China, is […]

On Friday 13th January 2012 the SFO announced that it had obtained a Civil Recovery Order in relation to dividends paid to a company shareholder resulting from corrupt contracts entered into by the investee company. The SFO used the opportunity to fire a warning shot across the bows of the institutional investor community. Speaking following […]

In April 2015, the UK Bribery Act (UKBA) celebrated its fifth birthday. In the same month, the Serious Fraud Office brought a third round of corruption charges under the UKBA in the Alstom case. Those allegations, brought against Alstom Network UK and one of its former employees, add to the expanding case against multiple UK […]

Britain’s Serious Fraud Office (SFO) charged a UK subsidiary of Paris-listed French engineering group Alstom with four further criminal offences of corruption and conspiracy to corrupt in a drawn-out investigation that has swung to Hungary. The SFO, which has already charged two UK-based Alstom units and four former employees with alleged corruption in India, Poland, Tunisia […]