Lloyds ripped off Bank of England by fiddling Libor rates July 28, 2014 Lloyds was hit by £226m in fines and settlements yesterday as the bank admitted its staff fiddled Libor and the influential repurchase agreements rate benchmark in the years before the financial crisis. Of that, £7.75m is going to the Bank of England as compensation for fees it dodged in the crash by manipulating the repo [...]
F1 chief pays £60m to end bribery trial August 5, 2014 FORMULA One boss Bernie Ecclestone eliminated one of the obstacles to his continued running of the global motorsport series yesterday when he agreed to pay £60m to settle his bribery trial in Germany. The deal, which confers neither guilt nor innocence on Ecclestone and is based on a clause in German law, signalled an end [...]
Serco to repay government £68.5m for tagging scandal December 19, 2013 Serco has agreed to repay the government £68.5m for overcharging for its tagging of criminals, Justice secretary Chris Grayling has confirmed. Both Serco and rival G4S have been found to have overcharged on contracts dating back to 2005, in a review prompted by allegations surrounding the two firms. The Serious Fraud Office (SFO) opened a [...]
Jamaica decriminalises cannabis in “enlightened” approach to drugs June 13, 2014 Jamaica is set to liberalise its drug laws in what the Justice Minister Mark Golding called a "more enlightened approach" to dealing marijuana possession. Marijuana will be decriminalised for religious, medical and scientific purposes. Jamaicans will soon be able to carry up to two ounces of cannabis without fear of criminal prosecution. Instead, the possession [...]
US seeks $10bn fine over BNP Paribas case May 29, 2014 BNP PARIBAS could face a fine of more than $10bn (£6bn) from the US Justice Department as part of its criminal probe into allegations the bank evaded US sanctions over Iran and other countries, according to reports last night. The resolution of the investigation into the French bank is still weeks away. However, if the [...]
Fraud case will press ahead in spite of aid cuts May 21, 2014 A KEY fraud trial will go ahead despite a lack of legal aid funding as the Court of Appeal yesterday overturned the decision of a lower court to halt the case. The Financial Conduct Authority, which is pursuing the case, backed the ruling, stating it “is committed to pursuing criminal action in appropriate cases” and [...]
BNP Paribas fined $8,973,600,000 for breaking US sanctions June 30, 2014 BNP Paribas’ sanction-busting fine is 13 times the previous record BNP Paribas was hit with a record $8.97bn (£5.2bn) fine last night for breaking US sanctions from 2004 to 2012, and was condemned in the strongest terms for its persistent criminal actions. The giant French bank funnelled money from Cuba, Iran and Sudan through the [...]
Legal aid deal halts barrister strike action March 28, 2014 CRIMINAL barristers yesterday called off further strike action after the Ministry of Justice postponed changes to legal aid that would have slashed their fees. The Criminal Bar Association welcomed the decision to suspend legal aid fee changes until at least summer 2015 and said it will work with justice secretary Chris Grayling on the reforms.
Motorway speeding fines could hit £10,000. Here’s what you need to know June 10, 2014 Magistrate court fines could rise by 300 per cent, as new rules are presented by the government to allow unlimited penalties. The top offence level fine, which includes motorway speeding, may rise from £2,500 to £10,000. Criminal damage, racially aggravated disorder and failing to provide a drugs sample could all see the same increase. Most [...]
International report slams war on drugs October 1, 2013 The International Centre for Science in Drug Policy (ICSDP) has produced a report highly critical of the war on drugs. The report found that in the last twenty years the price for drugs has dramatically declined and purity has increased, despite greater levels of interdiction than at any point in history. The authors of the [...]