Bribery Act & Proceeds of Crime - Written by on Thursday, May 2, 2013 0:15 - 0 Comments

SFO Case Round Up: 15 cases in development incl. pre/post Bribery Act matters

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From time to time there is speculation about the number of potential SFO bribery cases and its work load in general.

Speaking in London David Green the SFO Director spelt out the SFO’s present workload:

“We do not necessarily make public statements at the start of all our investigations, but we have announced the following:

Weavering: Investigation into the collapse of £300m hedge fund – previously dropped – now charged and awaits trial.

Libor: (by far largest and most complex SFO investigation) – into the alleged manipulation of London Interbank Offered Rate (arrests made and investigation continues apace).

Barclays/Qatar: investigation into the circumstances surrounding Barclay’s £8bn recapitalisation in 2008 with Qatari investment.

HP/Autonomy: investigation into allegations surrounding HP’s purchase of Autonomy.

GPT/SANG: investigation into dealings by a GPT subsidiary with Saudi National Guard.

We have also progressed inherited investigations:

Harlequin: investigation into allegations of fraud around financing of holiday resort construction.

JJB Sports: investigation concerns alleged disclosure failures as JJB was seeking to raise funds from the market. Charged and awaiting trial.

Glide: investigation into alleged transfer of liabilities in relation to cleaning up after open cast mining operations in Wales. Charged and awaiting trial.

In all we have 65 cases on our books, of which 23 are criminal investigations;

14 are post charge, either awaiting trial or in trial

13 are post trial; confiscation or awaiting appeal

15 under development in our intelligence section.

These 15 under development include projects which predate and those which post-date the Bribery Act 2010.”

We have previously said that 2013 could be unlucky for some.  It looks as though they may come from a possible pool of around 15 candidates.

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