Monitor this situation.
Unsubscribe anytime.
[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 5 sources · 19 days · First seen · Last updated
Legal actions regarding financial fraud and liability
Overview
Legal proceedings in Spain and the United Kingdom are addressing various forms of financial fraud and the resulting liabilities or recoveries.
In Spain, a Barcelona court ordered a bank to repay 900,000 euros to a company following a ‘CEO fraud’ scheme where scammers used voice-mimicking technology to impersonate an executive. The court found the bank failed to implement sufficient security measures. Concurrently, in the UK, Barclays is facing legal scrutiny regarding its ‘Quincecare duty’ in relation to a pyramid scheme that defrauded thousands.
Subsequent legal actions in the UK have focused on asset recovery and criminal sentencing. These include civil recovery orders against individuals for mortgage fraud, confiscation orders totaling over £850,000 for a cryptocurrency investment scam that defrauded 65 investors, and the imprisonment of a solicitor convicted of fraud by abuse of position.
Entities
Barcelona Court · Denaro · Barclays · Begbies Traynor · Parmjit Dhami
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Parmjit Dhami used false business and income information to secure a mortgage in 2010 for a property in Ilford.
- [○ 1 SOURCE] The Crown Prosecution Service recovered £265,000 through civil recovery proceedings regarding a property in Ilford.
- [○ 1 SOURCE] Two fraudsters were ordered to pay £851,402.27 in confiscation orders following a crypto investment scheme that defrauded at least 65 investors of £1,541,799.
- [○ 1 SOURCE] The Financial Conduct Authority has identified and contacted investors affected by the crypto fraud scheme.
- [○ 1 SOURCE] Fiona Parsons was convicted of fraud by abuse of position and sentenced to 30 months in prison.
- [○ 1 SOURCE] Fiona Parsons was struck off as a solicitor after misappropriating approximately £249,459 from clients by directing payments to her personal account.
Timeline
-
[CRIME] 3 sourcesUK courts order significant repayments in multiple fraud cases
UK courts have issued major orders against fraudsters, including £851,402 in crypto scam confiscations, £265,000 in mortgage fraud recovery, and the striking off of a solicitor for misappropriating client funds
-
[BUSINESS] 2 sourcesBanks face legal rulings over liability in major fraud cases
Courts in Spain and the UK are ruling on bank responsibilities following major fraud incidents, including a 900,000 euro CEO impersonation scam and a UK-based pyramid scheme.
Sources
braintreeandwithamtimes.co.uk · moneyunder30.com · realtid.se · todaysconveyancer.co.uk · tokenpost.com