Private Sector

LONDON, June 1 (Reuters) - Companies in Britain that commit wrongdoing have "nowhere to hide" and will face "meaningful consequences", a new enforcement co-head of Britain's markets regulator warned on Thursday, as she started setting out her strategy for the first time.

https://www.reuters.com/world/uk/nowhere-hide-uks-new-fca-enforcement-co-head-warns-finance-industry-2023-06-01/

Racehorse owner John Dance is being investigated over criminal offences of fraud and money laundering as financial investigators revealed on Wednesday they were aware of a potential black hole of more than £80 million in client assets and money associated with his wealth management business.

https://www.racingpost.com/news/britain/owner-john-dance-facing-fraud-offences-as-investigators-reveal-potential-80m-black-hole-a4HWQ4N301Ru/

LONDON: Boards of listed companies face tougher hurdles from January 2025 to show investors they have effective safeguards against fraud to ensure accurate financial reports, Britain’s corporate governance watchdog is proposing.

https://www.thestar.com.my/business/business-news/2023/05/25/uk-companies-watchdog-proposes-tougher-disclosures-on-internal-controls

A supercar tycoon is alleged to have withheld information from a fraud investigation into a car leasing company which collapsed with debts of £28 million.

https://www.largsandmillportnews.com/news/national/23549814.supercar-tycoon-denies-withholding-info-fraud-probe-car-leasing-firm/?ref=twtrec

Vinci Construction UK has issued a warning to subcontractors and suppliers who are being targeted by fraudsters posing as representatives of the contractor.

https://www.constructionenquirer.com/2023/05/25/vinci-issues-fraud-alert-to-suppliers/

The owner of Fleetwood Town is facing a jail sentence after being found guilty of a multi-million pound fraud involving mis-sold energy contracts.

Andy Pilley was a leading figure of what National Trading Standards called "a web of interconnected companies that misled innocent small businesses across the UK."

Aman who stole £350,000 from his employer treated himself to a life of luxury. Harminder Gill, 27, bought himself luxury cars, holidays and expensive getaways to London's infamous Shard at the expense of his bosses.

https://www.msn.com/en-gb/news/world/worker-who-stole-%C2%A3350000-from-employer-led-life-of-luxury-with-cars-and-holidays/ar-AA1bjLNw

A couple who defrauded Stephen Terry's Hardwick restaurant in Abergavenny, Monmouthshire out of £150,000 have evaded immediate prison sentences in a ruling the chef has branded an "absolute joke".

https://www.thecaterer.com/news/stephen-terry-hardwick-fraud-sentencing

BES Utilities owner Andy Pilley has been found guilty of fraud as a seven month long trial concluded on Friday (19 May 2023) at Preston Crown Court.

https://www.thebusinessdesk.com/northwest/news/2114944-lancashire-energy-company-owner-found-guilty-of-fraud-charges

Speedy has ruled out fraud following an investigation after £20m of kit was discovered “missing” earlier this year.

The hire giant launched a probe in February after a count-up of its kit revealed a £20.4m stock deficit in smaller site items like scaffolding towers, fencing and non-mechanical plant.

https://www.constructionenquirer.com/2023/05/18/speedy-rules-out-fraud-after-20m-of-kit-goes-missing/