Private Sector

The Serious Fraud Office (SFO) is conducting a criminal investigation into collapsed broadcaster Arena Television.

https://www.cityam.com/serious-fraud-office-opens-investigation-into-arena-television/

Cases of fraud by employees rose due to Covid-19 last year according to KPMG’s latest UK Fraud Barometer.

https://www.mortgagefinancegazette.com/market-news/fraud/employee-fraud-considerably-2021-24-02-2022/

Getting a new job can be an exciting moment that starts you down your dream career path. But be wary of job scammers looking to exploit people desperate for work - as Madbird jobfishing scam leaves dozens out of pocket

https://www.mirror.co.uk/news/uk-news/what-jobfishing-new-scams-leaving-26290774

Two construction skills test administrators have been jailed for 28 months each after pleading guilty to fraud charges.

https://www.constructionenquirer.com/2022/02/20/construction-safety-test-fraudsters-jailed/

A UK High Court judge has found that ED&F Man was the victim of a warehouse receipts fraud that ensnared multiple banks in 2017, and has awarded the commodities trading house US$282mn in damages.

https://www.gtreview.com/news/asia/forged-documents-and-misled-banks-edf-man-awarded-us282mn-in-nickel-fraud-case/#.YhasjBmhon0.twitter

The man who saved Norton Motorcycles only to see it fall into administration amid accusations of dishonesty and bad practice has pleaded guilty to illegally putting millions of pounds of outside investor’s pension funds into the failing business.

https://www.business-live.co.uk/manufacturing/ex-norton-bikes-boss-stuart-23013957?utm_source=twitter.com&utm_medium=social&utm_campaign=sharebar

KPMG has apologised for misconduct and misleading the UK’s accounting regulator after former auditors were accused of “forgery” related to audits including that of Carillion, the major government contractor that collapsed four years ago. Jon Holt, the chief executive of KPMG UK, said it was “clear” that misconduct had occurred, in a statement published to mark the start of a disciplinary tribunal on Monday. The Financial Reporting Council (FRC) has alleged that KPMG misled its investigators over routine inspections of the audits of Carillion and the software company Regenersis, in 2016 and 2014 respectively. The FRC has alleged that “relevant individuals acted with a lack of integrity in dishonestly or recklessly misleading the regulator”, according to tribunal documents.

https://www.riskcompliance.biz/news/kpmg-says-accounting-regulator-was-misled-over-carillion-audits/

The extradition of British technology tycoon Mike Lynch to the United States to answer criminal fraud charges has been approved by Home Secretary Priti Patel.

https://www.cityam.com/long-fraud-trial-looms-for-tech-tycoon-mike-lynch-as-priti-patel-approves-extradition-to-us/

Mr Justice Hildyard delivered a summary of his conclusions in the case on Friday.

https://www.shropshirestar.com/news/uk-news/2022/01/28/hewlett-packard-wins-huge-fraud-case-over-acquisition-of-british-firm-autonomy/

All eyes will be on the High Court today at 11.30, as a judge is due to announce his decision on a multibillion-dollar fraud case brought by Hewlett Packard over its acquisition of British software company Autonomy a decade ago.

https://www.cityam.com/what-a-day-for-mike-lynch-priti-patel-to-make-extradition-decision-and-3-7bn-high-court-fraud-ruling-at-11-30am/