Private Sector

Not too long ago, pharmaceutical giant Astrazeneca reached a £200bn valuation—one of only a few London-listed FTSE 100 companies to do so.

The major milestone was a testament to CEO Pascal Soriot’s strategic overhaul over the past decade, which has steered Astrazeneca away from its historic focus on respiratory and primary care toward a successful portfolio of cancer drugs.

But that valuation has slipped by nearly a quarter in just two months. Astrazeneca’s market capitalisation has now fallen as low as £152bn.

From September 1 2025, an organisation may be criminally liable for not having reasonable fraud prevention procedures in place in cases where an employee, agent or subsidiary commits a fraud to benefit the organisation.

Last week (November 6), the Home Office published guidance relating to the new offence of failure to prevent fraud.

The corporate offence aims to influence changes in compliance and culture as with the UK Bribery Act 2010.

A man has been arrested over the mass theft of cheese from a London dairy.

Detectives investigating the disappearance of 22 tonnes of cheese from Neal’s Yard Dairy have arrested a 63-year-old man on suspicion of fraud by false representation and handling stolen goods.

A man has been put behind bars after using salary sacrifice schemes to defraud organisations up and down the country and rack up thousands of pounds.

Joshua Murrell was sentenced to more than two-and-a-half years in prison after admitting guilty to one count of conspiracy to defraud, seven counts of fraud by false representation and one count of possession of articles for use in fraud.

https://www.expressandstar.com/news/local-hubs/dudley/kingswinford/2024/10/16/dudley-fraudster-who-stole-thousands-from-company-salary-sacrifice-schemes-jailed/

Midland car giant Jaguar Land Rover is investigating after a worker involved in a £70,000 expenses tax fraud claimed he "did what everyone else was doing". The scam was dubbed "Tommy's Tax" and Birmingham Crown Court heard it involved an external "financial advisor of sorts who was encouraging people who worked for JLR to commit this fraud".

https://uk.news.yahoo.com/jlr-speaks-70k-tommys-tax-100411737.html

Companies House is prosecuting steel tycoon Sanjeev Gupta alongside four directors for failing to lodge accounts for 76 companies in the UK.

Gupta, as well as directors Iain Hunter, Deepak Sogani, Jeffrey Kabel and Jeffrey Stein have all pleaded not guilty to the enforcement, which could see each be fined or disqualified as a director.

Andrew Bell, 56, registered for self assessment with Her Majesty's Revenue and Customs (HMRC) and claimed business expenses when he was not eligible to do either.

A Jaguar Land Rover employee was involved £70,000 in income tax fraud which he claimed was common practice. Andrew Bell, 56, from Mappleborough Road in Solihull, faced charges after improperly registering for self-assessment with Her Majesty's Revenue and Customs (HMRC) and 'false'ly declaring business expenses.

https://www.coventrytelegraph.net/news/coventry-news/jaguar-land-rover-employee-dodges-30113629

A worker who 'betrayed the trust' of his employer by stealing more than £40,000 has been jailed. Adam Foster committed a series of frauds at a petrol station in Warwick.

Foster defrauded the business out of £46,106 while he was employed there, Warwickshire Police said. Bosses conducted an internal investigation and discovered that the 32-year-old had committed a series of thefts between January 2022 and May 2023.

The former manager of Southend pier has been convicted of fraud after it was proven that he was selling parts of Southend pier for personal gain. The former head of the council’s pier and foreshore service has been fined and ordered to complete community service after entering a guilty plea to fraud by abuse of position and money laundering.

https://www.essexlive.news/news/essex-news/former-southend-pier-manager-sold-9618038

Awoman "caused significant financial damage to a local business" with crimes that cost her employer hundreds of thousands of pounds.

Louise Chambers, 41, from Thirsk, worked as finance manager for a group of Knaresborough-based companies in North Yorkshire from March 2021 to November 2022, when she was dismissed. A review then identified fraudulent payments from company accounts to accounts linked to Chambers, including a current account, a credit card and a council tax account.