The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives by Jesse Eisinger talks about what has brought us to present-day enforcement challenges and controversies.
I enjoyed the book cover to cover.… Continue Reading
Until the SFO announced its charges against Barclays, not a single UK bank or individual had faced criminal prosecution for their role in the financial crisis of 2008.
The financial crisis and the recession that resulted is the root cause of the austerity measures that are causing such deep damage to the UK’s public bodies, including local councils, the National Health Service, fire departments and schools.… Continue Reading
There’s a growing sense that agents and intermediaries that facilitate corrupt deals are immune from prosecution in the UK.
The Unaoil case — and it should be stressed that no allegations of corruption against the company have been proven — provides an opportunity to rectify this perception of impunity for intermediaries.… Continue Reading
Five individuals were acquitted of conspiracy to defraud by a jury at London’s Southwark Crown Court Wednesday in the UK Serious Fraud Office’s ongoing criminal prosecutions for manipulating LIBOR — the interest rate banks pay to borrow money from each other in the London market.… Continue Reading
ICBC Standard Bank agreed to pay about $33 million in penalties and enter into a deferred prosecution agreement for failing to prevent overseas corruption, the UK Serious Fraud Office said Monday.… Continue Reading
The first defendant to go on trial in the UK as part of the Serious Fraud Office’s criminal investigation into the manipulation of Libor was convicted and sentenced Monday at Southwark Crown Court.… Continue Reading
The chairman of a UK-based printing company and his son, the sales and marketing director, were sentenced Thursday for bribing public officials to win contracts in Kenya and Mauritania.
Smith and Ouzman Ltd marketing director Nicholas Smith, 43, was sentenced to three years in prison.… Continue Reading