Financial

The fallen crypto mogul is fighting off accusations he followed a similar playbook to Madoff – and deceived investors in the process

https://www.theguardian.com/business/2022/dec/17/sam-bankman-fried-bernie-madoff-fraud-ftx?CMP=share_btn_tw

NEW YORK (AP) — A co-founder of the fraudulent cryptocurrency OneCoin, a pyramid scheme that conned billions of dollars from investors worldwide, pleaded guilty to wire fraud and money laundering charges, U.S. prosecutors said Friday.

https://uk.news.yahoo.com/bogus-bitcoin-killer-cryptocurrency-founder-210648946.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

The FCA has fined Santander UK Plc £107,793,300 after it found gaps in its anti-money laundering controls, affecting its business banking customers.

https://www.finextra.com/newsarticle/41467/santander-uk-fined-1077m-for-repeated-aml-failures

A solicitor who swindled American investors out of $16 million (£13m) while acting for them in the purchase of the iconic Taymouth Castle in Perthshire, where Queen Victoria spent her honeymoon, has been sentenced to 12 years in jail – a term believed to be a new record for a lawyer guilty of dishonesty.

https://www.scottishlegal.com/articles/lawyer-at-centre-of-ps13m-scottish-castle-fraud-jailed-for-12-years

The High Court has ordered a number of crypto exchanges to reveal the personal data of some of their users after a fraud was uncovered.

https://www.ftadviser.com/investments/2022/12/02/uk-court-orders-crypto-exchanges-to-release-fraudsters-data/

The value of reported UK cryptocurrency fraud has jumped by 32% in a single year, from £171 million to £226 million*, shows data from Pinsent Masons, the multinational law firm.

https://ifamagazine.com/article/value-of-uk-crypto-fraud-rises-32-to-226-million-in-a-single-year/

Scott Neilson, 35, who played for lower league teams including Grimsby Town, Luton and Bradford City, is battling to avoid extradition. If convicted he could be jailed for up to 42 years

https://www.mirror.co.uk/sport/football/news/ex-footballer-could-jailed-42-28534420?utm_source=twitter.com&utm_medium=social&utm_campaign=sharebar

Today (21 November 2022) the Security Minister chaired a session of the Joint Fraud Taskforce and welcomed a new victim checklist created by the banking industry.

https://www.gov.uk/government/news/security-minister-welcomes-new-support-for-fraud-victims

The Financial Conduct Authority (FCA) has publicly censured Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer of Sonali Bank (UK) Limited (SBUK) for anti-money laundering (AML) failings.

https://www.finextra.com/pressarticle/94967/fca-issues-final-notice-to-former-sonali-bank-ceo-for-aml-failings

Three men have been charged as part of an investigation into a multi-million pound fraud and money-laundering operation by officers from the PSNI's Economic Crime Unit.

https://www.irishnews.com/news/northernirelandnews/2022/11/08/news/three_men_charged_over_multi-million_pound_fraud_and_money-laundering_operation-2887957/?param=ds441rif44T