Fraud Newsletter No. 66 April 2022

CASES

Ransomware injunctions: private hearing for prohibitory and mandatory injunction banning publication of confidential information obtained in cyber-attack: Ince Group v Persons Unknown: [2022] EWHC 808 (QB). For an example of such an order see: XXX v Persons unknown Order: Claim No. QB-2022-001083 12 Apr 22. 

SCPO applications must contain name and address of the prosecutor and prosecuting authority, otherwise procedural irregularity: Shirley [2022] EWCA Crim 475 

S1 Fraud Act: failing to disclose income from subletting: Zeroual [2022] EWCA Crim 288 

SENTENCING AND CONFISCATION

Insolvency: failure to disclose assets to the OR: 2½ years after trial Boris Becker sentencing remarks: 29 Apr 22  

Matrimonial home in husband’s name – wife’s “contribution to the family” not irrelevant: 50% to wife: Lam [2022] EWCA Crim 448. 

BILLS, STATUTES & STATUTORY INSTRUMENTS

Nothing of moment. 

CONSULTATIONS, GUIDANCE, CIRCULARS AND REPORTS

Government Response to HoC Treasury C’tee Economic Crime: HC 145 (2 Feb 22); 28 Apr 22.  

Fiftieth Report – Bounce Back Loans Scheme: Folz Estimated £4.9B defrauded: Public Accounts C’tee: 20 Apr 22.  

Request for Mutual Legal Assistance in criminal matters: guidelines for authorities outside of the UK: Home Office: 1 Apr 22 

NEWS

FCA: 

• Financial crime controls at challenger banks: 22 Apr 22 
• £2m account forfeiture order frozen under POCA s303Z1: 21 Apr 22 
• FCA launches 3 year strategy: 7 Apr 22 
• 2022/23 Business Plan: 7 Apr 22 
• FCA Outcome and Metrics: 7 Apr 22 

• Our Positive Impact 2022: Part 3: Enforcement Actions: 7 Apr 22 

SFO:  

• Almost £600k recovered from bank accounts of former Petrofax fixer: 29 Apr 22 
• Operation Steamroller returns £1m to more than 200 victims: one of UK’s largest boiler room frauds: 28 Apr 22 
• Sanjeev Gupta’s offices raided as SFO steps up probe: Now UK investigators target metals magnate just days after French swoop: This is Money: 27 Apr 22 

CPS:  

• Fraudsters sentenced for million-pound bribery and corruption at Coca-Cola Enterprises UK Ltd: 14 Apr 22 
• SEOCID (Serious Economic, Organised Crime and International Directorate) merges the International Justice and Organised Crime Division & the Specialist Fraud Division into 2 new divisions working alongside CPS Proceeds of Crime as one team: 1 Apr 22. 
• 3 convicted of scamming the taxpayer for over £1m to pay for lavish lifestyles: 25 Mar 22 

HMRC: 

• £17m scrap metal fraudsters jailed – missing trader VAT fraud. 12 Apr 22 
• HMRC names avoidance scheme promoters for first time: taxpayers warned to withdraw or they could face large tax bill: 7 Apr 22. 

HOME: 

• Boris Becker guilty of 4 charges under the Insolvency Act: 8 Apr 22 BBC News; Jailed: Tennis champion sentenced over bankruptcy: 2½ years: BBC News: 29 Apr 22. Sentencing Remarks 

• New ‘fraud squad’ will crack down on criminals who steal taxpayer money: PFSA (Public Sector Fraud Authority) created with £25m budget: HM Treasury: 27 Apr 22 
• Covid loan fraud: suitcases of cash stopped at border: £4.9B fraud estimated: Telegraph: 27 Apr 22.  
• Fraudsters jailed for 10 years for £13m pension scam after TPR prosecution: Ponzi scheme: The Pension Regulator: 22 Apr 22 
• Cracking down on dirty money: Interview with Sir David Green QC: Bureau of Investigative Journalism 19 Apr 22 
•  Reading bank fraud review now enters its 6th year: The Times: 18 Apr 22 

• 2 British men accused of duping liquor collectors: £76m US Ponzi: extradition: Financial News: 18 Apr 21.  
• Coca-Cola Enterprises boss admits taking £1.5m in bribes: 20 months suspended: 15 Apr 22. 
• FRC investigates Deloitte over Go-Ahead audits: 12 Apr 22 Guardian 

• City solicitor pleads not guilty to tipping off client of money laundering investigation: 12 Apr 22 City A.M. 

EU & ABROAD: 

• Archegos founder Hwang released on bail after arrest on fraud, racketeering charges: [Archegos was a private US investment firm which collapsed last year leaving $ 10B in losses]: Reuters: 27 Apr 22 
• Trump held in contempt, fined $10k per day until he complies with probe and delivers for business documents re investigation into alleged manipulation of real estate values: Reuters 26 Apr 22 
• Takedown of call centres involved in €20m online investment fraud: Eurojust 21 Apr 22  
• Essex Boys’ case of traders accused of manipulating markets heads for trial: alleged $700m oil profit by market manipulation: Guardian: 13 Apr 22. 

• 1MDB scandal: Ex-Goldman Malaysia boss found guilty re part of alleged $4B stolen and laundered: BBC News: 8 Apr 22 
• Pandora papers ICIJ investigation into Putin-linked oligarch: BBC News: 11 Apr 22  
• GFG Alliance Offices Raided in Paris: Bloomberg: 26 Apr 22