Former UBS trader Kweku Adoboli moved to ‘high security’ facility as close to 100 MPs urge Home Office to reconsider deportation September 12, 2018 Former UBS rogue trader Kweku Adoboli is being moved to a 'high security' facility ahead of deportation as close to 100 MPs call for the Home Office to reconsider. The 38-year-old has now been detained for 10 days amid growing public outrage over his impending deportation to his birth country, Ghana. He was convicted on two [...]
Tom Hayes’ lawyer slams lack of disclosure around $100m Citi settlement over Libor rigging in US June 20, 2018 The lawyer for Tom Hayes, a former Citi banker jailed for rigging the London Interbank Offered Rate (Libor), has slammed the Serious Fraud Office (SFO) for failing to disclose the bank's recent settlement with a group of US states over allegations it manipulated the interest rate benchmark. The banking giant reached a $100m (£76m) settlement [...]
Fish fight: Russian billionaire fails to keep $350m worldwide freezing order secret in dispute with former business partner September 19, 2018 Russian billionaire Vitaly Orlov has lost an attempt to keep a $350m (£270m) worldwide freezing order (WFO) against him secret amid an ongoing dispute with his former business partner over a stake in Russia's largest fishing company. Fellow billionaire Alexander Tugushev is locked in a dispute with Orlov over claims he refuses to recognise his one-third ownership of Norebo, [...]
Fish fight: Russian billionaire fails to keep $350m worldwide freezing order secret in dispute with former business partner September 19, 2018 Russian billionaire Vitaly Orlov has lost an attempt to keep a $350m (£270m) worldwide freezing order (WFO) against him secret amid an ongoing dispute with his former business partner over a stake in Russia's largest fishing company. Fellow billionaire Alexander Tugushev is locked in a dispute with Orlov over claims he refuses to recognise his one-third ownership of Norebo, [...]
Barclays prepares for hard Brexit as Irish expansion gathers pace October 24, 2018 The chief executive of Barclays said the bank is fully prepared for a hard Brexit as its Irish expansion plans gather pace. Jes Staley said it would be business as usual for customers after Britain leaves the EU on March 29. The bank will use its Irish subsidiary as a central European hub to guard [...]
Fraudsters sentenced in £2.8m Madeira luxury property investment scam September 4, 2018 Five people were today sentenced to a total of 17.5 years in prison for their part in a £2.8m investment scam which resulted in the City watchdog's second largest criminal prosecution ever. The fraudsters conned their victims into investing the cash in a fantasy development on the Portuguese island of Madeira, supposedly guaranteeing massive returns [...]
Recently disclosed UBS emails shed new light on alleged ‘ringmaster’ of Libor scandal Tom Hayes May 14, 2018 Recently disclosed emails between two senior employees at UBS shed new light on the character of Tom Hayes, the convicted former Libor trader who was accused of being the “ringmaster” in the interest rate fixing scandal that rocked the banking industry. A 2008 email exchange between two unidentified employees at the bank describe Hayes, who [...]
MPs warn that criminal justice system is “close to breaking point” May 27, 2016 MPs are today warning that the country's criminal justice system is "close to breaking point", with many witnesses disheartened and victims facing a "postcode lottery". In its most recent report, the Public Accounts Committee (PAC) slams the Ministry of Justice for being too slow to recognise that the system is under serious strain and that those seeking justice [...]
City’s Brexit blueprint to be used as “starting point” for trade deal, as Brussels gives “very little pushback” say Mark Hoban and Rachel Kent October 18, 2017 The City’s blueprint report for regulation after Brexit is likely to become a foundational document when trade discussions are finally reached, one of the authors has today revealed. Hogan Lovells partner Rachel Kent, who published the International Regulator Strategy Group (IRSG) report alongside former City minister Mark Hoban last month, told a Lords committee this [...]
Lawyers slam SFO disclosure failings for ‘miscarriage of justice’ in Tom Hayes Libor conviction April 27, 2018 The legal team for convicted Libor trader Tom Hayes has slammed the Serious Fraud Office (SFO) for a series of disclosure failings they say led to a miscarriage of justice and his wrongful conviction. Hayes’s lawyer Karen Todner has written to parliament’s Justice Committee urging it to probe the SFO as part of an inquiry [...]