Quindell names new boss to unravel mess August 17, 2015 EMBATTLED insurance outsourcer Quindell yesterday appointed tech development guru Indro Mukerjee as its new chief executive, two months after the departure of Robert Fielding. The appointment was made public amid investigations by the Serious Fraud Office and Financial Conduct Authority into previous business and accounting practices. The announcement ends 80 days of uncertainty for Quindell [...]
Quindell share price edges up as it appoints Indro Mukerjee as chief executive August 17, 2015 Shares in embattled insurance outsourcer Quindell rose 2.15 per cent after it announced it had appointed a new chief executive, two months after the departure of Robert Fielding. Read more: Four things we know about Quindell's new chief exec Indro Mukerjee will start his job on 7 September. His appointment came as the company's business and [...]
Head of the Serious Fraud Office David Green says agency’s future is uncertain despite conviction of Tom Hayes August 6, 2015 The director of the Serious Fraud Office, David Green, has said the future of the agency is uncertain, despite recent success. In an interview with the Guardian, Green said that despite the recent conviction of Tom Hayes over Libor rigging, the agency's future is shrouded in doubt due to setbacks in certain investigations. A jury [...]
Quindell share price plummets by a third on its first day of trading since June August 6, 2015 The share price of troubled insurance claims processor Quindell fell almost 40 per cent to 79p this morning as trading in the company's shares resumed for the first time since it suspended them in June. The news came the day after the the Serious Fraud Office (SFO) launched an investigation into the company, following a [...]
Quindell faces criminal investigation by Serious Fraud Office August 5, 2015 The Serious Fraud Office (SFO) has launched a criminal investigation into the Aim-listed tech company Quindell. Quindell said in a market update that it was informed of the probe this afternoon and the SFO is investigating its business and accounting practices. The investigation comes after the troubled company reported £238m annual losses and restated previous [...]
Tom Hayes Libor conviction: Serious Fraud Squad targets more Libor scalps after UBS and Citigroup trader received 14 years August 5, 2015 Top City lawyers are describing the conviction of Tom Hayes as a “game changer” for the prosecution of white-collar crime, saying that the decision paves the way for more people being charged and rescues the reputation of the Serious Fraud Office (SFO). A jury convicted Hayes, a former UBS and Citigroup trader, on Monday on [...]
Tom Hayes Libor trial timeline key dates: Former trader accused on attempting to manipulate Libor rate August 3, 2015 Well, that's it: former UBS and Citibank trader Tom Hayes has been sentenced to 14 years in jail, after being found guilty on eight counts of conspiring to rig the Libor rate. During a nine-week trial, the prosecution painted Hayes as someone who acted in a "thoroughly dishonest and manipulative manner" to mastermind a web [...]
Ex-trader Tom Hayes sentenced to 14 years as he is found guilty on Libor charges August 3, 2015 Former City trader Tom Hayes was sentenced to 14 years in jail as he became the first person to be convicted over the Libor rate rigging scandal, after being found guilty on all eight counts of conspiring to defraud by a jury at Southwark Crown Court today. The jury had been out for a week, [...]
Jury sent out to consider verdict in Tom Hayes libor-rigging trial July 29, 2015 The jury has been out to consider the verdict in the trial of former trader Tom Hayes who is accused of attempting to manipulate the Libor rate. The former UBS and Citigroup yen derivatives trader, who is 35, denies eight charges of conspiracy to defraud between August 2006 and September 2010. Prosecutors have branded Hayes "greedy" and [...]
Barclays and UK fraud office eye deal over criminal probe into Qatar July 21, 2015 Barclays is widely believed to be in talks with the Serious Fraud Office (SFO) over a potential deal to resolve a long-running criminal probe into the bank’s dealings with Qatari investors in 2008. The SFO has proposed the possibility of a deferred prosecution agreement (DPA) linked to the bank’s fundraising activities during the financial crisis. [...]