January 6, 2023
Cases
Cyber-fraud & Bitcoin claim: bitcoins transferred to fake trading platform and a wallet associated with Huobi Exchange: wallet service by email and non-fungible token; Huboi constructive trustees: summary judgement: Jones v Persons Unknown [2022] EWHC 2543 (Comm) (Westlaw).
Bankers Trust Order (BTO) served outside jurisdiction under new information order gateway via email & link to an online contact form: LMN v Bitflyer Holdings Inc: [2022] EWHC 2954 (Comm).
Sentencing & Confiscation
Stanley Miller: [2022] EWCA Crim 1589: review of principles/case law on (i) setting aside an agreed confiscation order – counsel’s error of law; (ii) re attributing to a director convicted of corporate fraud the benefits which accrued to the company.
Bills, Statutes & SIs
Proceeds of Crime (Money Laundering) (Threshold Amount) Order 2022 SI 2022 No. 1355 increases threshold transaction amount under POCA 3339A from £250 to £1,000 as from 5 Jan 23.
Consultations, guidance, circulars and reports
AML and CFT: Supervision Report 2020-22: HM Treasury: 19 Dec 22
Public Sector Fraud Authority 2022/23 Building for Success: PSFA: 19 Dec 22.
Guidance on reporting routes relating to vulnerable persons re SARs etc: NCA/ UKFIU (UK Financial Intelligence Unit) 20 Dec. 22.
Public knowledge of and confidence in the criminal justice system and sentencing: 2022 research: Sentencing Council: 12 Dec 22.
Changes to bodies granted investigatory powers under POCA: Consultation closes 1 Mar 23: whether to extend to Security Industry Authority, Food Standards Agency, Environment Agency, Public Sector Fraud Authority, Dept. Work & Pensions: Home Office: 7 Dec 22.
National Fraud Initiative Report 2022: Cabinet Office: 5 Dec 22
Insights from the 2021 Cyber Coordination Groups: FCA: 8 Dec 22 re cyber risk landscape, cyber security and the state of DevSecOps (Development, Security & Operations).
2022 Payment Threats and Fraud Trends Report: EPC 23 Nov 22.
News
CPS:
Former Premier League star found guilty of £15m investment fraud: 22 Dec 22
Ex-church official jailed for over £5m fraud against Church of England: 19 Dec 22
Married couple found guilty of a cold-calling multi-million pound investment scam: 16 Dec 22.
3 city workers found guilty in a $8.45m hedge and wealth fund fraud: 8 Dec 22.
FCA:
Santander UK fined £107.7m for repeated AML failures: 9 Dec 22.
3 bond traders fined for market manipulation: Decision Notices sent to Upper Tribunal: 7 Dec 22.
3 broker firms fined £4.75m for failures re detection of market abuse: 8 Dec 22.
Julius Baer fined £18m for failing to conduct business with integrity: FCA 30 Nov 22: re “corrupt” relationship with Russian oil conglomerate: Investment Week: 30 Nov 22.
SFO:
The SFO makes Britain a risky place to do business: Comment – Tom Hayes: The Times: 22 Dec 22 (paywall).
Lisa Osofsky visits law enforcement partners in US: 5 Dec 22.
Home
£122m fraud investigation launched at North Wales health board: N Wales Live: 23 Dec 22.
Official who defrauded Church of England of £5.2m jailed for 5 years: Shropshire Star: 19 Dec 22.
4 City traders hope to join Tom Hayes in challenge to Libor and Euribor convictions: Times: 5 Dec 22.
Judge overturns debt deal of Pramod Mittal, ‘Britain’s biggest bankrupt’ Times (paywall) 5 Dec 22. 2020 IVA declared bankrupt claiming he owed £2.7B.
Solicitor jailed for 12 years after private prosecution for fraud: Law.Soc.Gazette: 1 Dec 22
EU & Abroad
FTX: “one of the biggest financial frauds in US history.”
- Sam Bankman-Fried: FTX founder arrested in Bahamas at request of US: BBC News: 13 Dec 22.
- US v Samuel Bankman-Fried Indictment: DoJ: 13 Dec 22.
- Bail denied: BBC News: US charges SBF with defrauding investors –BBC News: 14 Dec 22.
- FTX boss SB-F agrees to be extradited: BBC News: 20 Dec 22.
- FTX founder released to parents on $250m bail: BBC News: 23 Dec 22.
- SB-F to enter plea in case alleging fraud and embezzlement at FTX on 3 Jan 23: cryptonews: 29 Dec 22.
Investors lose $60m in massive Crypto fraud in India: CoinGape: 29 Dec 22.
US charges crypto trader with fraud in Mango Markets case re attempted theft £100m: FT: 28 Dec 22.
Key trial witness blames former CEO Markus Braun for German Wirecard ‘swindle’ involving €1.9bn – “swindle from the start”: Indpdt: 20 Dec 22.
Social media influencers charged with $100m stock scheme – stock manipulation: BBC 15 Dec 22.
EU Corruption charges “very serious”: EU Parliamentary Vice-President allegedly arrested; 3 others charged re allegations of Qatari corruption: BBC News 12 Dec 22. European Parliament offices searched: BBC 13 Dec 22.
Trump Organization found guilty of tax crimes after New York trial: BBC: 7 Dec 22