All Serious Fraud Office articles – Page 3

  • Blog post

    SFO brings charges in Tesco accounting scandal

    2016-09-13T15:45:00Z

    Tom Fox examines the Serious Fraud Office’s recent indictments against three individuals from the October 2014 Tesco scandal in which the British grocery chain overstated earnings by fraudulently accounting certain revenues received back from suppliers.

  • Blog post

    RICS fines Sweett Group £125,000 in bribery case

    2016-08-23T09:45:00Z

    Following the outcome of a disciplinary panel, the Royal Institute of Chartered Surveyors (RICS) this month found that Sweett Group “did not at all times act with integrity” concerning a bribery case relating to its Middle East operations. Jaclyn Jaeger reports.

  • Article

    New blood at the Serious Fraud Office

    2016-06-21T12:00:00Z

    A report from Her Majesty’s Crown Prosecution Service Inspectorate has attacked the Serious Fraud Office for being a largely white, all-male board. Paul Hodgson examines the merits of the report and the SFO’s response.

  • Blog post

    SFO general counsel Alun Milford offers details on inner workings of SFO

    2016-03-30T15:00:00Z

    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 ...

  • Blog post

    SFO brings more charges in Alstom case

    2016-03-29T14:30:00Z

    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 ...

  • Blog post

    Sweett Group to pay £2.25 million for Bribery Act violations

    2016-03-07T12:00:00Z

    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 ...

  • Blog post

    U.K. SFO Drops Olympus Probe: Misleading Auditors Not a Crime

    2015-11-10T11:00:00Z

    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 ...

  • Blog post

    SFO Speeds Up Tesco’s Accounting Probe

    2015-10-07T11:45:00Z

    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 ...

  • Blog post

    Report: U.K. Regulator’s Victory in the Libor Scandal

    2015-08-05T10:30:00Z

    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. ...

  • Blog post

    SFO in Talks With Barclays to End Long-Running Criminal Probe

    2015-07-22T14:15:00Z

    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 ...

  • Blog post

    Anti-Corruption Groups Challenge the SFO on DPAs

    2015-06-24T11:45:00Z

    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 ...