August 1, 2024
Cases
Jing Du [2024] EWCA Crim 713: s.329(1)(a) POCA requires separate consideration of whether D (i) acquired crim. property and (ii) knew or suspected it was crim. property.
Mozambique wins court claim over corrupt Tuna Bonds: Spotlight on Corruption 29 Jul 24. $3.1B High Court claim: judgment – $11m in bribes was paid to deliver sovereign guarantees Republic of Mozambique -v- Credit Suisse International and Ors [2024] EWHC 1957 (Comm).
Sentencing & Confiscation
Abbasi, R v The Crown Court at Southwark [2024] EWHC 1781 (Admin) – the Crown Court has jurisdiction to order a witness summons in relation to confiscation proceedings.
Bills, Statues & SIs
Nothing of note.
Guidance, Circulars, Reports and Consultations
Cross-System Professional Enablers Strategy 2024-26 (part of UK Economic Crime Plan ’23): NCA: 30 Jul 24.
King’s Speech 2024: Draft Audit Reform and Corporate Governance Bill: new accounting regulator Audit, Reporting and Governance Authority will replace Financial Reporting Council: 17 Jul 24
Court of Appeal (Criminal Division) Annual Review: 8 Jul 24
Southwark Crown Court Practice Note judicial control and management of heavy fraud and other complex criminal cases: 3 Jul 24
News
Post Office Horizon IT Inquiry: Recordings, transcripts, reports, evidence and key documents etc available on the POHITI website.
CPS:
Businessman found guilty of Government backed COVID 19 bounce back loan fraud: 19 Jul 24
FCA:
Insolvency Service:
Bristol builder and his father sentenced for Covid loan fraud: 24 Jul 24
NCA:
£780k recovered in first UK forfeiture of sanctioned funds: 29 Jul 24
Ground breaking public private partnership launched to identify criminality using banking data: 26 Jul 24
NCA infiltrates world’s most prolific DDoS-for-hire service: 22 Jul 24
Harrow School ‘received thousands of pounds from money-laundering network’: Standard: 23 Jul 24
NCA leads international operation to degrade illegal versions of Cobalt Strike: 3 Jul 24
SFO:
Annual Report & Accounts 2023-24: Budget £95.5m, c. 35 cases open, 15 searches, 15 arrests, 3 trials, 4 convictions, 6 new investigations opened & 6 closed, c.1300 ref. to intelligence, 4.4 years average investigation time: 30 Jul 24
‘LIBOR two’ granted permission to appeal to Supreme Court: Law Soc.G. 25 Jul 24
Takeover Panel:
MWB Group: findings against 10 men involved in “deceit and wrongdoing” and sham transactions. All 10 “cold-shouldered”. (In last 56 years only 8 “cold-shouldered”). 3 of MBD management team ordered to pay £33m compensation + interest. Panel Stat. 2024/17 and Panel Stat. 2024/16. : 30 Jul 24.
Home
Police Force warn of rise in QR code fraud: BBC News: 22 Jul 24.
Fortress Capital is a Ponzi scheme, administrators claim amid attempt to bankrupt directors: City A.M.: 8 Jul 24
Fraud groups ‘stealing billions’ from music industry via ‘fake’ streams: Sky: 4 July 24
Fraud and corporate psychopaths: The proposition for reintroducing personality traits of the economic crime offender: Journal of Economic Criminology: Jul 24
Two UK Police Digital Service leaders arrested on suspicion of fraud and bribery: Guard: 4 Jul 24
Top law firm Mishcon de Reya used to buy £15million Knightsbridge home in ‘McMafia’ case: Standard: 1 July 24
US
US prosecutors charge prominent short-seller with fraud – “long running market manipulation scheme” yielding $16m: CNN: 26 July 24: SEC Press Release
US senator Bob Menendez found guilty in bribery trial: F.T: 16 Jul 24
Archegos founder Bill Hwang convicted of fraud – fraudulent inflation of $1.5B portfolio into a $36B portfolio: BBC 11 Jul 24. Archegos collapse cost Morgan Stanley $911m: BBC: 16 Apr 21
Global Cryptocurrency Exchange BitMEX Pleads Guilty To Bank Secrecy Act Offense: DOJ: 11 Jul 24
Boeing will plead guilty to criminal fraud over 737 Max crashes: Guard: 8 Jul 24
US sought Congo mines deal for Swiss trader Mercuria: F.T.: 1 Jul 24
Abroad
Nothing of note.
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