Private Sector

Trading standards officers have welcomed a jail sentence for the owner of a Telford company which defrauded elderly and vulnerable customers.

Former CEO and founder of Autonomy Mike Lynch is facing an extradition battle with the US over fraud charges

https://economia.icaew.com/news/november-2019/us-plans-extradition-case-for-mike-lynch

Employee fraud has been a hot topic this year, for insurers seeking our insight and training. In this article, Paul Widger from Clyde & Co's Forensic Accounting Practice discusses the matters insurers need to be alert to, in order to restrict leakage.

https://www.clydeco.com/insight/article/covering-employee-fraud-lessons-for-fidelity-guarantee-insurers

A man has been charged after a probe into alleged fraud at a Rosyth-based funeral firm.

https://www.dunfermlinepress.com/news/18029449.man-charged-funeral-fraud-probe-rosyth-firm/?ref=twtrec

An ex-employee of Nationwide Building Society has been given a suspended prison sentence for committing a series of fraudulent activity using information from mortgage borrowers.

Byrraju Ramalinga Raju was born in Bhimavaram in southeast India and received a degree in commerce before going on to do an MBA at Ohio University. He then went back to India and started various industrial, real-estate and construction firms, with mixed results. In 1987 he set up Satyam Computer Services, one of India’s first outsourcing firms, taking it public in 1992. By the start of 2009 Satyam was India’s fourth-largest IT firm and was providing IT and accounting services for more than 600 large companies, including international conglomerates General Electric, Nestlé, and BP.

https://moneyweek.com/517347/great-frauds-in-history-byrraju-ramalinga-raju-and-satyam/#.Xcg6OttM3xQ.twitter

Keith Rogers, who ran the company from 2004 and 2016, “categorically” denies any awareness or involvement in alleged accounting fraud at Goals Soccer Centres

Small to medium sized retailers were the biggest target of crime in the last year, according to the latest survey from the Federation of Small businesses (FSB).

http://www.lpportal.eu/content/editorial/articles/retail-environment/small-retailers-are-biggest-crime-victims/

An accounts assistant ripped off the Evans Halshaw Ford car dealership she worked for and was only caught after she went on maternity leave.

https://www.am-online.com/news/dealer-news/2019/10/28/.Xbf06HdJyKg.twitter

Five-a-side football company Goals Soccer Centres has called in the Serious Fraud Office to investigate a case of potential accounting fraud.

https://www.cityam.com/goals-soccer-centres-calls-in-serious-fraud-office/