All Serious Fraud Office articles – Page 5
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Blog
SFO general counsel Alun Milford offers details on inner workings of SFO
Image: During remarks at the European Compliance and Ethics Institute conference in Prague, Alun Milford, general counsel for the U.K. Serious Fraud Office, provided some rare insight into the inner workings of the SFO. He also provided some hints on cases that are on the horizon, including “a LIBOR-fixing trial ...
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Blog
SFO brings more charges in Alstom case
The U.K. Serious Fraud Office has brought further charges as part of its ongoing investigation of Alstom Network U.K., a U.K. subsidiary of French engineering company Alstom, this time against Alstom’s country president for the United Kingdom and managing director of Alstom Transport U.K. and Ireland. He is the seventh ...
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Blog
Sweett Group to pay £2.25 million for Bribery Act violations
The U.K. Serious Fraud Office last month sentenced and ordered the Sweett Group to pay £2.25 million ($3.21 million) to resolve an SFO investigation into the company’s activities in the United Arab Emirates. The conviction and punishment represents the first under Section 7 of the Bribery Act and offers many ...
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Blog
U.K. SFO Drops Olympus Probe: Misleading Auditors Not a Crime
The U.K. Serious Fraud Office has dropped a two-year case against Japanese endoscope maker Olympus Corp., in the wake of a London court ruling that doctoring reports to auditors is not a criminal offence under English law. The move is a setback for SFO Director David Green, who has been ...
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Blog
SFO Speeds Up Tesco’s Accounting Probe
The Serious Fraud Office has accelerated its probe into the accounting irregularities at Tesco, hoping to resolve the criminal investigation by year-end. The supermarket chain’s former chief executive Philip Clarke is one of many former Tesco executives being scrutinized by the agency in its investigation; Laurie McIlwee, former finance ...
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Blog
Report: U.K. Regulator’s Victory in the Libor Scandal
Image: Tom Hayes, once a “star trader” at UBS and Citigroup and the first to stand trial in the Libor scandal, has been charged with eight counts of conspiracy to manipulate Libor and will serve 14 years in prison. This case serves as a major turning point for the U.K. ...
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Blog
SFO in Talks With Barclays to End Long-Running Criminal Probe
The Serious Fraud Office has extended a deferred-prosecution agreement to Barclays to end an investigation into the bank’s alleged role in the £2 billion Qatari 2008 fundraising and other practices that helped the bank weather the financial crisis. British regulators recently gained the power to issue DPAs, and the SFO ...
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Blog
Anti-Corruption Groups Challenge the SFO on DPAs
Image: Title: GreenA number of well-known anti-corruption activists, such as Transparency International and Corruption Watch, are urging David Green, director of Britain’s Serious Fraud Office, to rethink replacing criminal charges with deferred prosecution agreements. The group warns that if DPAs are offered, that will allow banks and other companies to ...
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