View more on these topics

Former Arck partner pleads guilty to forgery

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

Former Arck partner Kathryn Clark has pleaded guilty to two counts of forgery at a hearing at Southwark Crown Court.

Clark and another former Arck partner Richard Clay are facing a total of six counts relating to fraud and forgery. Clay pleaded not guilty to all six counts.

The plea and case management hearing took place last week. Bail conditions mean both defendants have been tagged and are subject to curfew. The full list of charges was set out at Westminster Magistrates Court in November.

Between 16 January 2007 and 1 August 2011, Clark and Clay are accused of making representations to investors of the Estrela Santiago Sale and Repurchase Agreement Contracts, known as Sarps, which they knew were or might be misleading. The duo have also been accused of making a false statement relating to funds held in a Yorkshire Bank account by suggesting it had a balance in credit of £13.75m when it was £25.87.

The third charge relates to fraud by false representation. Between 16 January 2007 and 1 August 2011, Clark and Clay are accused of making representations to investors which they knew were or might be untrue or misleading in relation to the Paradise Beach Sarps.

The fourth charge states that between 1 October 2008 and 3 March 2012, Clark and Clay falsified a signature related to a Paradise Beach Sarp.

Fifthly, between 16 January 2007 and 1 August 2011 Clark and Clay are accused of misleading investors of the Joyston Alternative Asset [No 4] Limited Offering Redeemable Preference Shares.

Finally, Clark and Clay are accused of creating a false life settlement policy analysis summary that purported to show the true investments made by Joyston. It is alleged that no such investments were actually made.

The trial is listed for 12 January 2015 at Southwark Crown Court.

Recommended

FCA-FSA-Airplane-700x450.jpg
2

Advisers welcome move to prevent FCA fees subsidy

Advisers have welcomed a move by the FCA to ensure large firms are not subsidising the regulatory fees of small firms.  In the FCA’s final fees and levies paper for 2014/15, published last week, the FCA said it will consult in October on changes to the way it calculates minimum annual fees. Now, firms with annual […]

HMRC-Paperwork-Closeup-700x450.jpg
3

HMRC apologises over £1.9bn tax mistake

HM Revenue & Customs chief executive Lin Homer has apologised for calculation errors which meant HMRC overstated how much it recouped in owed tax. Last week, a report from the National Audit Office revealed HMRC had overestimated the amount of tax it had collected by £1.9bn a year. HMRC had agreed with the Treasury to […]

CPD-Logo

The technical quiz: 10 July 2014

To help you keep up with the fundamentals of tax, retirement and financial planning, try answering these questions  Question one Greg has gifted a 20% shareholding in an unquoted trading company, worth £150,000, to his son. What is the effect of claiming holdover relief on this disposal? a) The gift relief claimed will extinguish the […]

Chris-Hannant-MM-Peach-700x450.jpg
13

Chris Hannant: What progress on the long-stop?

In 2012, Apfa renewed its campaign for a long- stop for advisers. We saw an opportunity with the introduction of the Financial Services Bill to raise the issue in Parliament. We prepared our evidence for arguments from the adviser and consumer perspective, and launched our Fair Liability 4 Advice campaign with Zurich. Early signs were […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com