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FSA deals blow to landbankers
The chief City regulator has forced another landbanking company to shut its
doors, leaving hundreds of investors with land worth a fraction of the price
they paid. Guildford-based Rubicon Estates, which bought fields at farmland
prices and then sold small plots to investors at higher prices in the
expectation of valuable planning permission being granted within "five to 20
years", has ceased trading following a Financial Services Authority enquiry.
See also: Alerts section |
Guardian |
29 Jan |
|
Victim of crooked lawyer got
"full restitution’
A Halifax man ripped off by his lawyer knew nothing of the crime until
Srinivasen Pillay was suspended from practice two years ago. "It would have
been very bad for me," Charles Lamont said during a telephone interview from
his Halifax home. When news broke in The Chronicle Herald that Mr. Pillay
had been suspended for three months while auditors reviewed his handling of
client trust accounts, Mr. Lamont said a family friend and executor of his
mother’s estate gave him a call. Mr. Pillay had handled Mr. Lamont’s
mother’s estate.(Canada) |
Chronicle Herald |
26 Jan |
|
Solicitor admits theft
A FORMER solicitor who lost £250,000 through his business and a property
deal admitted theft and criminal damage when he appeared at Worcester Crown
Court. Andrew Dutton, aged 61, of Longmead Chambers, Birtsmorton, was said
to be penniless and eking out his £100-a-week benefit by offering legal
advice on a website. Giving him a two-year conditional discharge, Judge John
Cavell told him: "It's tragic to see a man of your professional background
standing in the dock at crown court over what is a civil dispute. You
behaved extremely stupidly." |
Malvern Gazette |
26 Jan |
|
Community sentence for former
judge who downloaded child porn
A former crown court judge, found
to have 75 pornographic images of boys on his laptop computer, was yesterday
sentenced to a 12-month community rehabilitation order. David Selwood was
told that the courts looked "gravely" on the offences he had committed
because they involved "exploitation and abuse of children". After Selwood,
70, was sentenced, campaigners called for further detailed investigations
into cases involving offences against children which he heard as a judge.
Natasha Finlayson, of the charity ChildLine, said: "His authority to make
judgments in cases involving offences against children must surely be called
into question." |
Guardian |
First reported here on 14 Jul 2004 |
|
EXCLUSIVE: OFFICER HUNTING
PAEDO COPS WAS WEB PERVERT A
TOP cop groomed a girl of 12 for sex while working undercover to catch
paedophiles in the police.
Flying Squad Detective Constable Glen Algar, 44, also downloaded and made
168 porn pictures of children. He spent five months grooming a schoolgirl
called Lucy in an internet chatroom and sent her indecent films and text
messages. But it was a trap set by suspicious colleagues and she was
actually another police officer. Algar, married with two children, yesterday
admitted 17 charges of online abuse including inciting a child to have sex.
He had 25 years police service including rooting out bent officers. |
Mirror
Update 08 Mar:
Glen Algar jailed |
26 Jan |
|
Child porn sentence is
condemned Children's charities
have condemned a judge's decision not to jail a man who downloaded
child pornography, amid the row about prison overcrowding. Judge John Rogers
QC suspended Derek Williams' sentence, saying he had to consider a Home
Office request to jail only the most serious offenders. The lord chancellor
has denied claims by opposition MPs that the judiciary's discretion appeared
to be influenced. |
BBC |
26 Jan |
|
Lawyer 'planned sex with
child' A solicitor has been
ordered to do 180 hours community service after asking a prostitute to
arrange sex for him with a mother and an underage girl. Glasgow Sheriff
Court heard how Ian Donnelly had sneaked away from his office for the
encounter, but the vice girl called police and he was arrested. Officers
later found child pornography on Donnelly's home computer. Donnelly, 43, who
had admitted a number of charges, was also put on the sex offenders'
register for three years. The personal injury solicitor, who worked for
Lloyd Green in the city's Cadogan Square, was also placed on probation for
three years and ordered to take part in counselling. (Unlikely to be struck
off, though. UJ) |
BBC |
25 Jan |
|
Call for delay to legal aid
plans Senior judges have
called on the Government to delay plans to reform the £2 billion legal aid
scheme, saying that they risk imperilling access to justice. Sir Anthony
Clarke, Master of the Rolls, urged a delay to the changes for civil cases to
ensure that they did not drive out experienced solicitors. Sir Mark Potter,
head of the High Court Family Division, said that he would like to see a
year’s delay in reforms affecting family cases. The proposals risked
rewarding “the ineffective”, he said. |
Times Online |
24 Jan |
|
United Kingdom:
Court Of Appeal - Checking The Spiralling Costs Of Claimants’ Solicitors?
The rules relating to Conditional Fee Agreements ("CFAs") entered into post
1 November 2005 have now been relaxed. A distinction has to be drawn between
CFAs entered into after this date, when the CFA (Revocation) Regulations
apply, and those entered into prior to that date when the old regulations
apply and where technical challenges are still possible. |
Mondaq |
24 Jan |
|
Fresh concerns
raised over Magistrate's IT system
The court IT system has come under renewed attack from Britain's
Magistrates in an unprecedented protest letter to Prime Minister Tony
Blair. The letter to Downing Street complains that the system is 'far from
joined up' and 'severely out of date with no apparent prospect on immediate
improvement'. But the overall complaint in the letter signed by Magistrates
Association chairwoman Cindy Barnett and other association leaders is that
the lack of resources for local justice has already been brushed aside by
Lord Chancellor Lord Falconer. |
Computing |
23 Jan |
|
McCormicks to
split following rare MBO
Yorkshire stalwart McCormicks is to split in two following a management
buy-out by six junior equity partners at the firm’s Leeds office, it was
announced today (23 January). The unusual move will see the six-strong group
take over the partnership shares of founding partner Peter McCormick,
litigation partner Neil Goodrum and corporate crime partner Geoff Rogers and
relaunch the firm’s 24-year old Leeds office as Clarion Solicitors. |
Legal Week |
23 Jan |
|
Boiler rooms
are starting to feel the heat
The average victim of cold-call share-selling scams loses an astounding
£20,000. Iain Dey looks at a multi-agency bid to nail the fraudsters. The
City of London Police has launched a nationwide operation to hunt down the
individuals behind the flood of so-called boiler room investment scams that
are ripping off British investors. Concerns have been mounting for several
years about the growth of boiler rooms – unauthorised operations based
overseas that cold-call UK investors and use high-pressure sales techniques
to persuade them to buy worthless shares. |
Telegraph |
23 Jan |
|
FSA sets up
dedicated team to tackle financial crime
The chief City
watchdog yesterday warned that criminals targeting banks and other financial
institutions would become increasingly successful without a more determined
crackdown. The Financial Services Authority said it had created a dedicated
team, drawn from staff working across the organisation, to tackle organised
financial crime. |
Guardian |
23 Jan |
|
City lawyers attack new Fraud
Act Lawyers have raised
serious concerns about the workability of the new Fraud Act, just seven days
after it came into force. On the whole the Fraud Act 2006 has been welcomed
by the legal profession as, for the first time, most offences deemed as
fraud are under one statute. Two of the new offences - fraud by failing to
disclose information and by abuse of position - have, however, raised more
than one lawyer's eyebrow. |
The Lawyer |
23 Jan |
|
Limitation period does not
apply Chancery Division
Published January 23, 2007
Cattley and Another v Pollard and Another
Before Mr Richard Sheldon, QC
Judgment December 7, 2006
The exception to the normal period of limitation for actions in respect of
trust property in section 21(1)(a) of the Limitation Act 1980, only applied
to breach of a trust by an express trustee and did not apply to a claim
brought against a defendant alleging that she had dishonestly and knowingly
assisted in the fraudulent breach of the trust. |
Times Online |
23 Jan |
|
Cut-price justice fails crime
victims, say JPs The criminal
courts are in meltdown with a severe cash crisis forcing offenders to be
sentenced on the ground of cost, not justice, magistrates say. In an
indictment of the Government’s penal policy they have told Tony Blair in a
letter that his vision for criminal justice is failing and that a string of
initiatives has “severely undermined public confidence” in the justice
system. |
Times Online |
23 Jan |
|
Jailed ex-ambulance chief
Trevor Molton ordered to pay back thousands
FRAUD investigators have welcomed
the news that a former ambulance chief currently serving three years in
prison for fraud will have to pay back more than £140,000 to the National
Health Service (NHS). Trevor Molton, 51, of Middleton, near Pickering, is a
former chief executive of West Yorkshire Metropolitan Ambulance Trust (WYMAT)
- now part of the Yorkshire Ambulance Service (YAS). |
York Press |
20 Jan |
|
Bank loses $1.1m to online
fraud Internet fraudsters have
stolen around 8m kronor ($1.1m; £576,000) from account holders at Swedish
bank Nordea. The theft, described by Swedish media as the world's biggest
online fraud, took place over three months. The criminals siphoned money
from customer's accounts after obtaining login details using a malicious
program that claimed to be anti-spam software. |
BBC |
20 Jan |
|
Council clerk admits £65k
fraud A community council
clerk from Gwynedd has pleaded guilty to 18 charges of false accounting
worth £65,860. Sian Wyn Francis committed the offences whilst working as the
clerk to Criccieth, Llanbedrog, Llannor and Boduan community councils in
Gwynedd. Judge Merfyn Hughes QC told Francis, from Llanarmon near Pwllheli,
she had committed the offences at a time she was in a "position of trust". |
BBC |
20 Jan |
|
Revenue worker jailed for
fraud An Inland Revenue worker
involved in a tax scam has been jailed for 30 months. At Edinburgh Sheriff
Court, Imran Ayub, 25, of Woodlands, Glasgow, pleaded guilty to defrauding
the Inland Revenue of £146,377 between 2003 and 2004. He was working as an
advisor on the Tax Credit Helpline based in Livingston and passed on
confidential information about genuine claimants to others. |
BBC |
20 Jan |
|
Jail for £600k Town Hall fraud
‘Guilty, guilty’ says trusted council finance man who bought home in
caribbean (sic) with elderly’s cash. ONE of the Town Hall’s senior and
trusted finance officers has been told he will go to prison for stealing
more than £600,000 from Camden’s most vulnerable residents. John Walter
Baptiste, 57, confessed to the swindle at Wood Green Crown Court on Friday
morning. He helped himself to cash that Camden Council was supposed to be
looking after on behalf of residents unable to deal with their own financial
affairs. His victims included mentally ill and elderly service users |
Camden New Journal |
19 Jan |
|
Q&A: Foreign crimes vetting
A senior Home Office civil servant has been suspended over the failure to
provide police with details of crimes committed by Britons in Europe. Home
Secretary John Reid is to face questions from MPs. We look at the
controversy.
How did this come to light?
It emerged in evidence presented by the Association of Chief Police Officers
(Acpo) - which covers England, Wales and Northern Ireland - to the Commons
home affairs select committee. |
BBC |
17 Jan |
|
Blair dismisses civil liberty
dangers of super-database Tony
Blair tried yesterday to allay fears that the Government is planning to
create a Big Brother-style "super-database" after criticism from civil
liberties groups. The Prime Minister told a seminar at Downing Street that
"perfectly sensible" plans to share information held by government
departments had been misrepresented. He insisted the aim was to improve the
performance of public services, so that people no longer had to give details
repeatedly to different parts of the government machine. |
Independent |
17 Jan |
|
400 lawyers unite to reject
legal aid plans at LawSoc SGM
Around 400 solicitors gathered at Chancery Lane today (17 January) to
unanimously back a motion rejecting the Government’s controversial reforms
for the UK’s legal aid system. At a Special General Meeting (SGM) held at
the Law Society’s headquarters, the lawyers - most of whom are legal aid
practitioners - gave their overwhelming support to a motion tabled late last
year by Southampton practitioner Roger Peach. The manifesto calls for
solicitors to reject the Government’s proposals to introduce competitive
tendering between firms and the awarding of fixed-length contracts for legal
aid work. It also urges the Law Society to renegotiate fresh terms for
criminal defence contracts. |
Legal Week |
17 Jan |
|
Solicitor can challenge
tribunal's findings
Court of Appeal
Published January 17, 2007
Simms v Conlon and Another
Findings of dishonesty in proceedings
against a solicitor by the Solicitors’ Disciplinary Tribunal were
inadmissible in evidence in a subsequent partnership action and it was not
an abuse of the process of the court for that solicitor in those proceedings
to challenge by way of collateral attack the tribunal’s conclusions. The
Court of Appeal so held in a reserved judgment when allowing an appeal by
the defendant, Paul Francis Simms, former senior partner of the Bower Cotton
Partnership, from the decision of Mr Justice Lawrence Collins ([2006] EWHC
401 (Ch)) that the claimants, Michael Ambrose Conlon and Roger Harris,
former partners of the defendant, were entitled to damages for his
fraudulent failure to disclose dishonesty. |
Times Online |
17 Jan |
|
PI Insurance: Limits Of
Indemnity Insurers now face
potential risks for costs above their limit of liability. In a recent case
professional indemnity insurers were ordered to pay the claimant’s legal
costs of up to £1m, in addition to the limit of indemnity of £2m. This is
the first time that the court has exercised its power to award costs against
a non-party in a PI context. |
Mondaq |
16 Jan |
|
Solicitor jailed for £100k
theft A solicitor has been
jailed for stealing almost £100,000 from clients to compensate others he had
failed. Jeremy Langworthy, 48, of Abergavenny, admitted taking money from
accounts to make up "acceptable" compensation sums for other clients.
Prosecutor Michael Mather-Lees told Merthyr Crown Court: "Langworthy was
effectively robbing Peter to pay Paul." He was jailed for 18 months after
admitting seven charges of theft totalling £99,400 and one of forgery. |
BBC |
16 Jan |
|
Government looks at data
shake-up The way the
government makes its vast amounts of data available to the public could be
about to change. It has decided to make access to a database of UK laws
completely free for the public to access and re-use. It marks a "sea-change"
in the way government information becomes available to the public, a senior
civil servant has told the BBC News website. It is a victory for campaigners
who think public sector information should be free for the public to use.
(Not before time. UJ) |
BBC |
13 Jan |
|
The doomed government websites
Worried what you may miss with the planned closure of 551 government
websites? Use the link, right, for the list of links that are still active -
for now. |
BBC |
13 Jan |
|
Crown Prosecution Service
Chief Executive appointed
Peter Lewis has been appointed Chief Executive Officer of the Crown
Prosecution Service from 15 January. Currently the CPS Director of Business
Development, Mr Lewis is the first Chief Executive to be appointed from
within the Service. Director of Public Prosecutions, Sir Ken Macdonald QC
said today: "I am delighted to announce the appointment of Peter Lewis as
Chief Executive and I am very much looking forward to working with him.
"Peter's dedication and success as our first Director of Business
Development bodes very well for the challenges that his appointment as CEO
will bring." |
Crown Prosecution Service |
11 Jan |
|
Solicitor who drew up his
mother’s will to inherit her fortune defeated in court
A Borehamwood solicitor drew up his mother's will without her knowledge or
approval' in order to inherit part of her large estate, a High Court judge
has ruled. Morley Franks, 63, a partner in Turner & Debenhams, in Shenley
Road, had hoped to prove a will he drew up in 1994 was valid, but Mr Justice
David Richards said the solicitor was not a witness on whose evidence I can
rely' and not telling the truth'. Mr Franks has been practising in
Borehamwood since 1978, first as a partner in Measures Franks & Co until
2004, then when it merged with Turner & Debenhams. He specialises in wills
and probate laws. This week, his firm refused to comment on his position
following the judgement, which took place at the High Court in December. |
This is Hertfordshire |
11 Jan |
|
Surprise as interest rate is
raised
Homeowners were dealt a New Year blow today after a shock decision by the
Bank of England to raise interest rates for the third time since August. The
Bank's Monetary Policy Committee (MPC) increased the cost of borrowing from
5% to 5.25%, making mortgage and loan repayments more expensive for millions
in the UK. It was widely thought that rates would stay on hold today, with
the markets and some economists forecasting a rise next month. But with
inflation currently running well above the 2% target at 2.7% and set to rise
further, the MPC hiked rates today. |
Independent |
11 Jan |
|
Solicitors to sue Lord
Falconer
Solicitors are preparing to take
the Lord Chancellor to court unless his plans for the £2 billion-a-year
legal aid scheme are revised. The Times has learnt that counsel has been
instructed by the Law Society, which represents 100,000 solicitors in
England and Wales, to examine the prospect of a judicial review challenge. |
Times Online |
11 Jan |
|
Government pulls plug on
agency to seize crime profits
The Government’s drive against organised crime will be dealt an embarrassing
blow today when the Home Office announces the closure of the agency set up
to seize money from criminals. Tony Blair had promised that the Assets
Recovery Agency would target hardened criminals and double the money seized
by police and Customs. The agency, which was set up in 2003, had a target of
breaking even by this financial year but its latest accounts show that it
recovered just £4.3 million while spending £18 million this financial year
alone. |
Times Online |
11 Jan |
|
COPS SWOOP ON 30 FIRMS
SCAMBUSTERS from the Department
of Trade and Industry yesterday launched their biggest ever operation to
smash organised fraud. Code-named Operation Barber, it involved dawn swoops
on 30 companies in Notts, Derbyshire and Leicestershire by 200 DTI officials
and police. The companies, which have not been named, are alleged to have
been part of a huge conspiracy to fleece genuine businesses by buying goods
on credit and then disappearing. Fourteen of the companies have been wound
up owing more than £10 million. A DTI spokesman said: "It is alleged that
companies established lines of credit to buy easily disposable goods, and
then went into liquidation having sold the goods without paying creditors."" |
Mirror |
11 Jan |
|
Legal aid changes to be
debated
Proposed changes to Britain's
legal aid system will be debated in Westminster today. The government is
aiming to preserve the highest quality of service for vulnerable people by
making payments to lawyers based on whole cases and completed work, rather
than hourly rates. Legal aid minister Vera Baird claims that this will
remove incentives for cases to be "concluded swiftly" and remove the
possibility of inefficiency being rewarded. But Citizens Advice believes
that the proposed changes could in fact make already difficult situations
more problematic for vulnerable Britons by denying them expert advice. |
In the News |
11 Jan |
|
Woman used a DIY kit to forge
dying mother's will A woman
whose mother lay dying of cancer used a DIY will kit to try to cheat her
family out of their inheritance. Dinah Lambert was to receive a quarter of
her mother's £70,000 estate, splitting it equally with her three
step-siblings. But Lambert, 60, decided she did not want to share the cash
and used the kit from WHSmith to forge a new will. Now, she is to serve a
seven-month jail sentence for the swindle. Manchester Crown Court heard that
Lorna Maudsley, 79, was dying of cancer in hospital when her daughter
hatched her plan. The retired beautician paid £9.99 for the kit, which
contains all the instructions, forms and documents needed to make a will
without a solicitor. (A solicitor might have done a better job. But the full
story should be read. UJ) |
This is London |
10 Jan |
|
Ex-lawyer goes bankrupt
A former Shrewsbury lawyer who was struck off for pocketing a client’s cash
has declared himself bankrupt. Stephen Morecroft was ordered to pay
£22,885.42 in costs by a Solicitors’ Disciplinary Tribunal in May. The
hearing was told Mr Morecroft was given £10,897.06 by a client for a deposit
on a new home to be bought off-plan. In November 2005 the Law Society
intervened in his firm, Morecroft and Co, in Barker Street, Shrewsbury, and
officials discovered the firm’s accounts held only £1,194. The tribunal
struck off Morecroft after finding a string of allegations, which included
accounts rule breaches and failing to act in the best interests of clients,
proved against him. |
Shropshire Star |
09 Jan |
|
Taxman to get bugging and
phone-tap powers TAX
inspectors are to be given new powers allowing them to tap taxpayers’
telephones and plant bugs inside their homes and offices. HM Revenue &
Customs (HMRC) says its inspectors need such covert surveillance to tackle
the growing threat from organised and white-collar crime...“A number of
Customs and Excise prosecutions have spectacularly collapsed in recent years
due to the abuse by officers of their powers, not because their powers were
inadequate,” said Travers. “This is just another example of creeping
authoritarianism on the part of this government.” |
Times Online |
08 Jan |
|
'Tesco Law' comes under
renewed fire from leading lawyers
A contentious bill to allow law
firms to go into business with other professionals and permit outside
investment has come under renewed fire from leading lawyers. The Law Society
and the Bar Council have written to members of the House of Lords ahead of
hearings on the legal services bill this week to express concerns over the
impact of reforms on the independence and regulation of the profession. |
Financial Times |
08 Jan |
|
Exposed: Fees that shame
insurers
When Graham Smith lost a leg in
2004 after a motorcycle accident the previous year, he was happy for his
insurer to put him in touch with a solicitor to deal with his injury claim.
But even though the other driver admitted liability, the 27-year-old
lighting technician's case dragged on. He only realised something was badly
wrong with the handling of his case when, four months after losing his leg
and still in a wheelchair, Graham had the chance of a part-time job. All the
help that his solicitor offered was advice to 'take a bus to work'. Like
thousands of others, Graham had fallen victim to the widespread and
corrosive practice of 'referral fees', where insurers effectively auction
the names of policyholders who are injured in motor accidents to solicitors
keen to earn big fees in the attempt to win damages. |
This is Money
See also:
When insurers make a policy out of sleaze |
08 Jan |
|
Norwich Union embroilled in
legal probe Some solicitors
pay up to £10,000 in an auction to represent badly injured people in a bid
to get a cut of the financial settlement, a financial investigation has
revealed. Most of the country's biggest insurers, including Norwich Union,
reportedly invite bids from law firms to represent their policyholders in
court. |
Norwich Evening News |
08 Jan |
|
Wigmakers defiant as judges
prepare for new image
Wigmakers are keeping tight-lipped over the latest threat to their
livelihood as judges prepare to scrap their wigs in civil court cases. The
move will end more than 300 years of legal tradition in civil cases, but the
criminal court will continue to don the horsehair head gear, while
commercial lawyers have already removed their wigs. |
The Lawyer |
05 Jan |
|
1,500 law firms at risk as
banks get tough Almost a fifth
of the UK’s 9,000 law firms could be forced out of business in the next few
years as banks tighten up on lending to the profession, a leading firm of
advisers has warned. BDO Stoy Hayward believes that lenders are poised to
radically re-assess their once-liberal attitude towards bankrolling law
firms and that the legal industry faces a "fundamental change" as a result. |
Times Online |
05 Jan |
|
Lawyers test litigation
funding waters Moore Stephens,
the City-based accountancy and advisory firm, is facing a $173.6m (£90m)
negligence claim in one of the largest lawsuits to be brought with the help
of independent “litigation funding”. Under such arrangements, third parties,
unconnected with either the claimant or defendant and ranging from
specialised providers to hedge funds, put up finance to help pursue a claim
in return for a share in the proceeds if it succeeds. Litigation funding is
in its infancy in the UK, although it has become more established in some
overseas jurisdictions, notably Australia. Although controversial, it is
seen by some lawyers as a valuable means of advancing bone fide claims. The
action against Moore Stephens, filed in London’s High Court just before
Christmas, relates to the firm’s role as auditor in the late 1990s for Stone
& Rolls, a failed British company linked to Zvonko Stojevic, a Croatian
businessman. |
Financial Times |
05 Jan |
|
Fraudsters net record £1.4bn
from business rip-offs Private
equity firms were warned yesterday to beware of fraudsters after a survey
showed businesses suffered a 40% jump in fraud last year. The cost of fraud
reached record levels to £1.4bn in 2006, up from £1bn in 2005 said
accountants BDO Stoy Hayward. The firm's annual FraudWatch survey also
argued that unreported fraud, often covered up by companies concerned about
their reputation, accounted for 85% of all fraud and had reached a record
£5bn. |
Guardian |
03 Jan |
|
St. Paul Travelers ends
contingent fees HARTFORD, Conn.
(AFX) - The St. Paul Travelers insurance company has agreed to stop paying
'contingent commissions' to brokers and agents to steer business to
insurance companies, Connecticut Attorney General Richard Blumenthal said
Tuesday. In August, the St. Paul, Minn.-based company settled a bid-rigging
investigation for $77 million in a deal with Connecticut, Illinois and New
York. The company agreed to pay restitution and penalties and adopt reforms.
In November, the attorneys general for the three states told St. Paul
Travelers and three other major insurance companies that they must end
special commissions to agents and brokers by Jan. 1 as agreed to in the
earlier settlement. ACE Group Holdings Inc. of Bermuda, American
International Group Inc. of New York, Zurich American Insurance Co. Inc. and
St. Paul Travelers had agreed to end contingent commissions when 65 percent
of an insurance line is sold by companies that don't pay the commissions. |
Hemscott |
03 Jan |
|
New law helps fight on fraud
The Fraud Act 2006 , which
establishes new criminal laws to assist in the fight against fraud, received
Royal Assent in November. The Act abolishes the various offences of
deception under which fraud has historically been prosecuted and, for the
first time, establishes a single statutory offence of fraud. The breadth of
the new offence means it is likely to have far-reaching implications. The
Fraud Act is part of an ongoing programme of reform. In the Queen’s Speech
on 15 November... |
Accountancy Age |
02 Jan |
|
Business fraud at record
levels Business fraud reached
record levels in Britain last year, passing the 1 billion pound mark for the
first time, a report said on Tuesday. The level of reported business fraud
increased by 40 percent to 1.37 billion pounds, up from just under 1 billion
in 2005, according to the annual FraudTrack report from accountants BDO Stoy
Hayward. The actual cost to businesses is estimated to be much higher-- at
least 5 billion pounds -- because only 15 percent of businesses reported
frauds to the police, the report said. |
Reuters |
02 Jan |
|
England's green and pleasant
land falls into the hands of rogue salesmen
People buying pasture plots hoping to reap big profits are often being
conned, reports Tony Levene Alan
Reed was drinking a quiet pint in his south London local last July when he
noticed an acquaintance across the bar. "I'd seen him in there a few times.
He was the sort of person you'd nod to if you were on your own - maybe chat
about football," says Mr Reed, a retired supermarket manager, 58. This time
the fellow drinker - known to Mr Reed as Tim - didn't want to talk about
England's World Cup flops. Instead, he told Mr Reed he was an independent
financial adviser who could multiply his savings four to five times over the
next four years. Mr Reed says: "The deal involved land. |
Guardian |
30 Dec |
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