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Fraud Newsletter 45 - JULY 2020

Fraud Newsletter 45 – July 2020 (69 downloads)


COVID related difficulties a reasonable excuse for SFO failure to comply with time for service for commencement of civil recovery proceedingsSFO v Karimova [2020] 6 WLUK (Westlaw) 

JR of refusal to award costs to private prosecutor after dismissal of fraudulent conspiracy and statutory fraud charges at preliminary hearing:  no jurisdictional error or defective reasoning found:   R (Wollenberg) v Cr. Crt Southwark [2020] EWHC 1915 (Admin) 1915. 

Jury directions considered re failure to mention matters in defence statement and no comment interview – conspiracy to commit fraud by false representation (solar panel investment scheme): conviction upheld: largely factual issue:  Black [2020] EWCA Crim 915. 


Consideration of third party interests in confiscation orders and s160A(2) POCA:  Hilton (N. Ireland) [2020] UKSC 29.   

£527k confiscation of all rents from 12 flats following failure to comply with enforcement notice is not disproportionate: Waya followedR (Haringey LBC) v Roth [2020] EWCA Crim 967. 



SFO:  (1) DPA: G4S Plc approval in principle to enter into DPA: 10 Jul 20:  SFO Press Release: 10 July 20.   Approved by William Davis J: 17 July 20: SFO Press release. 

(2) SFO secures Unaoil convictions for corruption re Iraqi oil contracts:  SFO News Release 13 Jul 20.   SFO Director Lisa Osofsky criticized in abuse hearing judgment – SFO will conduct an independent review of the issue on completion of all trials: Spotlight on Corruption: 13 Jul 20.   

(3) Annual Report and Accounts 2019-2021 July 20. 

(4) GPT Special Project Management Ltd, former MD and 3 individuals charged with corruption re Saudi contracts: 20 July 20. 

(5) £5.45m confiscation orders secured in Afren case: 31 Jul 20.  

NCA (1 faces legal bill £1.5m for failed UWO claim. CA orders £500k immediate repayment: £1m further order anticipated: The Times 13 Jul 20. 

(2) EncroChat messages from “kingpin” criminals – NCA not fucking about” – “too much success”: 5 July 20.  

Deutsche Bank fined £120m for “significant compliance failures” in processing hundreds of transactions for Jeffrey Epstein: BBC News: 7 Jul 20. 

Decision Notice against Conor Foley Worldspreads CEO for market misconduct: FCA 3 Jul 20: FCA News Summary 

UBS setback in appeal against €4.5B fine for illegally soliciting clients and laundering proceeds of tax evasion (Feb 19).  Swiss Court has now ruled that historic data from 40k UBS Swiss clients must be handed to French tax authorities: 15 Jul 20: Yahoo Finance. 

1MDB scandal developments (1 Malaysian Development Berhad) fund allegedly plundered of 4.5b. Najib Razak (Malaysian PM 2009-2018) found guilty of 7 counts of corruption re £7.7m IMBD monies: trial re £448m still outstanding. BBC News 28 Jul 20.  Goldman Sachs settles for $3.9B with Malaysia:  DoJ investigation continues: BBC News 24 Jul 20. 

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Tony Shaw QC

These monthly Fraud Newsletters are a very succinct summary of fraud cases and matters which have occurred in the preceding four weeks. Their aim is let you check that you have missed nothing of importance. If you need more detail it can be obtained by using the hyperlinks. The newsletters are as opinion free as possible!

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