View more on these topics

Convicted fraudster sentenced to extra four years

Justice-Fine-Ban-Court-Gavel-Judge-700x450.jpg

A convicted fraudster has been sentenced to an additional four years in prison by Westminster Magistrates’ Court after failing to make any payments towards a £364,000 fine, following an investigation by the Serious Fraud Office.

In April 2012, US national Brian O’Brien was extradited and convicted for his part in a £4m boiler room fraud. He was sentenced to eight years’ imprisonment.

A year later he was ordered to pay £364,938.53 in compensation to victims of his scam, but District Judge Roscoe found there was “no evidence of any attempt to pay”. Roscoe says this was “culpable neglect” on the part of O’Brien.

O’Brien and his partner Lynne D’Albertson ran Secure Trade & Title Company from Sussex. The firm ran share pushing operations based in Spain and Ireland and claimed to protect prospective shareholders.

In reality most of the funds to be invested were siphoned away by the fraudsters.

O’Brien was convicted of conspiracy to defraud, attempting to obtain a money transfer by deception, transferring criminal property, contempt of court and hampering an investigation through concealment, destruction, disposal of documents.

Recommended

EU-Euro-Europe-Eurozone-700x450.jpg

T. Bailey’s Askew doubles down on Europe

While the T. Bailey Growth fund team has recently doubled the portfolio’s allocation to European equities, its managers insist the introduction of quantitative easing across the currency bloc was not behind the move. Looking at the decision to up the £178.8m portfolio’s allocation from circa 5 per cent at the start of the year to […]

Zurich-building-2012-700.jpg

Zurich transfers annuity book to Rothesay Life

Zurich UK Life is to transfer its legacy portfolio of £1.2bn of annuities to specialist insurer Rothesay Life for an undisclosed fee. Under part seven transfer rules the transfer, of around 28,000 policies, is subject to a review process by regulators and courts before it can complete. Zurich has not actively promoted annuity sales since […]

barclays-building-2012-700x450.jpg

Banks to plead guilty over forex rigging

Barclays and Royal Bank of Scotland are set to plead guilty this week to charges of rigging the foreign exchange market, with fines running into almost £3bn. The two banks are among the institutions that have been under investigation of manipulation of currency benchmarks since 2013. The Sunday Times reports both are set to accept substantial […]

Mark-Carney-close-up-focused-700.jpg

Inflation hits zero as BoE shaves growth forecasts

Forecasts for growth in the UK have been lowered by the Bank of England in its latest inflation report. The Bank says inflation hit zero in March, as previously forecast, driven by falls in energy and food prices. However, the Bank has made minor reductions in forecasts for growth in gross domestic product for the […]

Guide

Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment