Combatting financial crime is high on the political agenda.
Police and many other investigating authorities have a larger number of powers to investigate and prosecute financial crime than ever before. This means that individuals and businesses are now more likely to face scrutiny and investigation. We recognise and understand just how difficult it is to deal with an investigation or prosecution and we are here to protect you, your business, management and employees.
Having the right advice at the beginning of an investigation (or any intervention) enables a swift and considered response to allegations and helps protect your legal rights and manage reputational damage thereby minimising financial and other losses.
Where necessary we are able draw together lawyers from a number of disciplines including commercial litigation, tax and employment to ensure all angles are covered.
Criminal fraud
We act in some of the largest and complex criminal fraud cases across the country. Many of our cases are, and have been, multi-jurisdictional in nature. Our work includes investigations and prosecutions by the Serious Fraud Office (“SFO”), HM Revenue & Customs, the Financial Conduct Authority (“FCA”), the Crown Prosecution Service (“CPS”), the Department for Business Innovation & Skills and the Police. The range of work is vast but often includes bribery and corruption, MTIC, high yield investment fraud, asset stripping, creditor fraud, tax fraud, false accounting and proceeds of crime/money laundering cases.
We can help with:
- 24 hour access;
- Advising on arrest;
- Attendance at police stations;
- Interviews under caution or PACE interviews;
- Responding to dawn raids, searches and seizure at home or work;
- Advising on the legality of warrants and production orders including judicial review;
- Advising on legal professional privilege;
- Advising on restraint orders;
- Representation at the magistrates' court and crown courts;
- Defending prosecutions including:
- Review of evidence and unused material;
- Advice on the criminal process;
- Advice on abuse of process and other legal arguments;
- Advice on experts required including forensic accountants and computer forensics;
- Advice on confiscation proceedings;
- Advice on appeal; and
- Confiscation and proceeds of crime sanctions.
- Challenging the prosecution authority;
- Responding to information requests;
- Being approached as a witness;
- Self-reporting & internal investigations;
- Bribery and corruption;
- Civil fraud recovery and counter fraud.
Recent experience
Shoosmiths’ Business Crime Team has acted in a number of very high profile investigations and prosecutions including several brought by the Serious Fraud Office (SFO). In one such public case we secured the acquittal of our client in the prosecution of three steel executives in the case known as XYZ Ltd or Sarclad. This was the first acquittal of any individual charged with bribery and corruption following a Deferred Prosecution Agreement.
Members of our team have worked on numerous SFO investigations and many prosecutions by other prosecuting authorities including:
- The SFO prosecution of executives in the Sarclad Ltd (XYZ Ltd) prosecution following a deferred prosecution agreement for bribery and corruption;
- The SFO prosecution involving Lord Davenport and Gresham Ltd;
- The SFO Investigation into TATA Speciality Steels;
- The SFO investigation into Jeffrey Revell-Reade - £100m boiler room case involving the unregulated sales of US penny stock shares;
- The SFO investigation into Mark Dingley (acquitted) - £30m fraud investigation into capital fundraising schemes and Pre IPO deals;
- The SFO investigation into manipulation of inter offer base rates (EURIBOR);
- The SFO Investigation into forestry investments in Brazil;
- Represented company to facilitate disclosure obligations to foreign jurisdiction pursuant to S.2 Notice served by the SFO;
- Represented close family member of a PEP & Designated person under EU Sanctions accused of facilitating breach of sanctions (NCA);
- Advised company in relation to alleged breaches of Psychoactive Substance Act and marketing of ‘legal highs’ (NCA);
- Operation Carina - successfully defended in a £50 million alcohol diversion fraud (HMRC prosecution);
- Representation of mortgage broker – successfully defended client’s alleged role in £14m mortgage fraud (HMRC Prosecution);
- Prosecution of company director of SME for £1m VAT evasion. Successfully negotiated loss down to £90,000 with no confiscation proceedings (HMRC Prosecution);
- Prosecution of two company directors of high street fast food franchise for VAT & PAYE fraud (HMRC Prosecution);
- Local authority prosecution for breaches of planning enforcement notice;
- Representing Company Director of large scrap metal dealership;
- Representing Company director during insolvency investigation (Insolvency Service);
- Represented School with charity status during investigation by SOS for Education and Charity Commission following criminal allegations;
- Representing company during public interest winding up proceedings (Insolvency Service);
- Represented company during FCA investigation into mis-sale of shares during fund raising (FCA);
- Represented company during ‘dawn raid’ with a view to preserving privilege;
- Representing third parties with interests in confiscation proceedings;
- Confiscation proceedings following EURIBOR trial.
