Fraud & Financial Crime

The introduction of the Bribery Act 2010 has seen an increased number of businesses and individuals investigated and sometimes prosecuted in relation to issues of bribery and corruption. We work closely with organisations to ensure that they do not fall foul to an investigation by helping to implement adequate procedures in to their businesses. Our team of experts are also highly experienced in successfully advising businesses and individuals who have been the subject of such investigations. 

• Conducted a bribery risk controls gap analysis for a global pharmaceutical company.    
• Instructed by a global pharma group to review and analyse the company’s UK third-party supplier oversight and bribery and corruption compliance programmes.    
• Advised a diamond mining company during an investigation to ascertain whether it held proceeds of crime/funds derived from bribery and corruption.    
• Advised a principal UK defence manufacturer in relation to regulatory investigations by the DoJ, SEC and SFO regarding historic and ongoing trading practices and suspected FCPA and Bribery Act violations.    
• Acted for a shareholder in a claim involving allegations that the company was utilised for personal enrichment and unlawful activities, involving allegations of money laundering, fraud, and corruption.   
• Acted for an EU-headquartered global engineering and manufacturing group to conduct an internal investigation following bribery allegations in relation to the company’s Chinese operations.   
• Appeared as an advocate defending companies and individuals facing serious criminal charges, including complex fraud, bribery, and corruption. 

Directors are subject to legally binding duties and can become the subject of an investigation and subsequent disqualification for a number of years if found to be in breach of such duties, or following the insolvency of the company for which they are a director. We understand the pressures on directors and often advise them during an investigation in order to avoid any disqualification proceedings. We are also available to advise once proceedings are underway in order to prevent or minimise any period of disqualification. 

• Located hidden assets on behalf of an Administrator and brought a claim for misfeasance and fraud against a director including director disqualification proceedings.   
• Acted on behalf of the Department for Business Innovation and Skills and HM Revenue and Customs in high-profile disqualification and public-interest winding-up matters which involved preparing affidavit evidence, seeking disqualification orders and winding-up orders in the High Court in respect of high-profile, multi-group and cross-border organisations.   
• Advised companies and company directors facing the threat of criminal prosecution from Companies House for late filings.   
• Instructed to represent clients in their dealings with Companies House following a threat of criminal prosecution against the companies and their directors following late filing of accounts.    

Undergoing any disciplinary procedure is a stressful time for any individual and particularly for individuals working in heavily regulated sectors including financial and professional services. Our specialist lawyers have vast experience in acting for and guiding these individuals through the difficult process of being the subject of an investigation by a regulatory body such as the FCA, ICAEW, or the SRA. 

• Advised a “Big 4” accountancy practice in relation to enforcement action by the FSA (now FCA) against the former directors of a FTSE 100 IT company.    
• Advised businesses in relation to accounts which have been “frozen” by their banks without explanation.    
• Advised financial services companies in relation to FCA investigations.    
• Collaborated with forensic accountants and officers during an insider trading and money laundering investigation by providing legal counsel and liaison with prosecution authorities in the UK and offshore.    
• Worked on the prosecution of a financial institution for criminal failings in its money laundering systems and controls.    
• Advised a bank in relation to parallel civil and criminal proceedings involving allegations of large-scale criminal fraud.    
• Advised on suspected insider dealing and market abuse by senior staff and officers at a national food retailer, liaising with the FCA regarding insider trading prosecution.    
• Advised a global bank on regulatory investigations by the DoJ and other regulators in multiple jurisdictions into the manipulation of Foreign Exchange (FOREX) markets.    
• Advised a principal UK defence manufacturer in relation to regulatory investigations by the DoJ, SEC and SFO regarding historic and ongoing trading practices and suspected FCPA and Bribery Act violations.    
• Acted on behalf of the Department for Business Innovation and Skills and HM Revenue and Customs in high-profile disqualification and public-interest winding-up matters.    
• Worked with The Insolvency Service in relation to the investigation of live companies and multi-million-pound frauds. 

Whether an organisation has fallen victim to embezzlement by an employee or a third party or an individual has been accused of embezzlement, the legal journey that ensues is a stressful and legally challenging one. Our expert lawyers offer guidance to organisations in conducting internal investigations and advising them on their best means of redress be that through civil recovery or criminal prosecution. Our team has also vast experience in representing accused individuals. 

• Acted for a travel company and related property companies in litigation against a former finance director for an account and payment of sums found to be due from the finance director in the Chancery Division and Court of Appeal.   
• Acted for a leading travel organisation in recovering substantial monies taken by in-house legal advisor.   
• Acted for a property developer based in Saudi Arabia in a negligence and fraud claim for over £6 million against a firm of solicitors in Liverpool for failing to prevent the fraudulent transfer of his properties in the UK and in some instances procuring the transfers.   
• Acted for two governors of London schools, involving high-profile individuals in a claim involving conspiracy, fraud and breach of statutory law.  

Our team of experts have vast experience in undertaking high–profile, complex, and multi-jurisdictional cases involving fraud. Our lawyers often represent either organisations that have been defrauded in carrying out investigations and prosecutions; or they advise the individuals who have been accused of carrying out fraud either through the investigation or the prosecution processes. 

• Defended a HNWI from claims to recover c. US$22m for fraudulent misrepresentation and conspiracy to defraud by unlawful means over the sale of a large FMCG company in sub-Saharan Africa (Ovlas Trading SA v Strand (London) Limited & Ors All ER (D) 130). 
• Acted for a major European car rental business in its counterclaims for fraudulent misrepresentation, repudiation, and breach of contract against a major IT consultancy (Atos Consulting Ltd v Avis Europe Plc EWHC 323 (TCC); All ER (D) 07 (May)). 
• Advised a Swiss banker implicated in fraud proceedings.    
• Acted for a Middle Eastern state in relation to a $120m fraud.    
• Advised a firm of brokers involved in the Langbar fraud litigation.   
• Successfully acting for a leading UK liquidator in Ponzi-type claims against former directors and others. 

Today’s political climate has led HMRC to be under more pressure than ever to be seen to be clamping down on organisations and individuals suspected of improperly handling their tax affairs and those advising them to do so. We understand the process and the importance of having one’s tax affairs in order. We regularly provide our clients with advice in relation to COP9 investigations, and both criminal investigations and prosecutions. We have also successfully advised clients on statutory tax appeals within the Tax Tribunal. 

• Acted on behalf of Noorasa Begum in a case that involved a VAT fraud claim pursued by HMRC.    
• Advised a FTSE 100 company on managing anti-tax evasion risk in order to comply with the Criminal Finances Act.     
• Advised financial services companies in respect of multibillion tax fraud.    
• Advised and litigated to The European Court of Human Rights in relation to a multimillion offshore tax avoidance scheme.    
• Advised companies caught up in HMRC’s crackdown on MTIC VAT fraud and in other instances where HMRC has sought to rely on the ‘knew or should have known’ principle to render third parties liable for VAT lost to fraud in related transactions.    
• Dealt with claims pursued by liquidators against individuals that controlled or were connected with failed companies that owed substantial debts to HMRC including claims based on unlawful and fraudulent trading and breach of fiduciary duties.     
• Acted on behalf of insolvency practitioners and HM Revenue and Customs in relation to asset recovery work investigating antecedent and fraudulent transactions, representing clients in both the High Court and County Courts.     
• Acted on behalf of the Department for Business Innovation and Skills and HM Revenue and Customs in high-profile disqualification and public-interest winding-up matters which involved preparing affidavit evidence, seeking disqualification orders and winding-up orders in the High Court in respect of high-profile, multi-group and cross-border organisations.   

Our team of dispute resolution experts has extensive experience in dealing with disputes in which there has been mis-selling or misrepresentation or an alleged breach of warranty. The team is experienced in all aspects of bringing or defending such claims, including by using alternative dispute resolution methods. 

• Acted for the Tchenguiz Family Trust in a case against an Icelandic Bank for misrepresentation and damages in the amount of £1.8bn.   
• Acted for the client in a claim involving a fraudulent scam with the sale of a property. Legal proceedings were issued to recover the property, and a freezing injunction was successfully obtained. The case involves legal issues of deceit, conspiracy and fraudulent misrepresentation, and breach of trust.   
• Acted for an UHNWI in relation to a fraudulent misrepresentation case, which was successfully won in a two-week High Court trial.   
• Acted for a major European car rental business in its counter-claims for fraudulent misrepresentation, repudiation and breach of contract against a major IT consultancy over the failed implementation of ERP software and defending claims from the consultancy for its unpaid fees and lost profits.   
• Acted for a major US conglomerate in a multimillion-pound claim for fraudulent and negligent misrepresentation arising out of the acquisition of a European group of automotive companies against the former directors and shareholder of the target company.   
• Litigated for breach of warranty and misrepresentation arising from the sale of a fast-moving consumer goods (FMCG) business in Angola for c.$30m.    
• Acted for a property developer against two major UK banks in relation to its claims in the High Court, Administrative Court, and the FCA Redress Scheme for damages worth over £20 million in connection with the mis-sale of 7 Interest Rate Hedging Products.   
• Acted for a property developer against a major UK Bank in relation to its claim in the High Court for over £25 million in compensation for the mis-sale of 10 Interest Rate Hedging Products.

We understand the importance of ensuring adherence to the Proceeds of Crime Act 2000 and the Money Laundering Regulations. We have successfully represented clients in challenging actions purportedly taken to prevent any money laundering, including by judicial review. 

• Instructed to advise a UK company in relation to AML risks associated with their exposure to Norway and Sweden supply chains of a heavily regulated product.   
• Acted for a shareholder in a claim involving allegations that the company was utilised for personal enrichment and unlawful activities, involving allegations of money laundering, fraud, and corruption.   
• Defended a Zimbabwean HNWI in an investigation by the Metropolitan Police into allegations of money laundering in the UK, including a successful judicial review of the issue of warrants and production orders under the Proceeds of Crime Act 2000.    
• Assisted CIS states and individuals in some of the largest fraud and money laundering investigations through the UK courts.   
• Collaborated with forensic accountants and officers during an insider trading and money laundering investigation by providing legal counsel and liaison with prosecution authorities in the UK and offshore.   
• Worked on the prosecution of a financial institution for criminal failings in its money laundering systems and controls.   
• Conducted an internal review of a fiduciary company’s compliance with risk-based systems and controls obligations arising from AML requirements, pursuant to money laundering legislation and guidance.    
• Advised a financial institution on cross-border investigation by ACPR into their AML/financial crime controls. Provided Jersey AML compliance guidance and advised on resisting sharing confidential information with ACPR outside of established mutual assistance gateways.   

Being investigated by the Serious Fraud Office (SFO), which is tasked with tackling serious or complex fraud, bribery and corruption, can be a daunting experience. Our expert lawyers have successfully guided parties through high–profile investigations and prosecutions and are well placed to advise our clients on all related aspects, including making voluntary self-reporting to the SFO and seeking deferred prosecution agreements. 

• Advised an employer on potential claims arising from a major discontinued SFO investigation.   
• Advised a principal UK defence manufacturer in relation to regulatory investigations by the DoJ, SEC and SFO regarding historic and ongoing trading practices and suspected FCPA and Bribery Act violations.    
• Acted for a family trust leading a large legal and forensic team in response to high-profile arrests and an investigation by the SFO, which was subsequently withdrawn pursuant to successful judicial review proceedings.
• Advised an employer on potential claims arising from a major discontinued SFO investigation, including matters arising from defaults under syndicated loans of in excess of £2 billion.