Wirecard has become the latest in a lengthy list of companies to find itself embroiled in a major accounting scandal. The payments processing firm has just filed for insolvency after a turbulent week which saw the firm admitting it had a £1.7billion black hole in its accounts. Its CEO Markus Braun resigned last week and was … Read more
It is one of the most iconic scenes in Oscar-winning financial film The Big Short. Actress and model Margot Robbie pops up in a bubble bath with a glass of champagne to explain, in plain English, the world of subprime mortgage-backed securities, which helped trigger the financial crisis more than a decade ago. Now, in … Read more
BUSINESS LIVE: Car dealer Lookers warns of suspected fraud; Tesco accounting probe ends By This Is Money Published: 07:56 BST, 8 June 2020 | Updated: 07:56 BST, 8 June 2020 Car dealership Lookers has warned it might have to suspend its shares after the business discovered a potential fraud in its accounts. The Financial Reporting … Read more
Thousands of fraud victims still had to complain to the Financial Ombudsman Service last year to try and get their money back from banks, despite the introduction of a new anti-fraud code last May which said they ‘should’ be refunded. The Ombudsman said it received nearly 11,000 complaints from people who fell victim to banking … Read more
President Trump got fact-checked by Twitter for suggesting that California’s mail-in balloting initiative would lead to substantial voter fraud in the November general election. ‘There is NO WAY (ZERO!) that Mail-In Ballots will be anything less than substantially fraudulent. Mail boxes will be robbed, ballots will be forged & even illegally printed out & fraudulently signed,’ Trump … Read more
The jury in the fraud trial against four Barclays executives has been discharged. John Varley, the bank’s chief executive from 2004 to 2011, and three of his senior staff have been on trial since January over claims they illegally sweetened the deal for Qatari investors. It was alleged that they funnelled £322m in secret payments … Read more
Lori Loughlin and her husband Mossimo Giannulli both pleaded guilty to one count of conspiracy to commit fraud in a Zoom court hearing on Friday after accepting a ‘slap on the wrist’ deal that gives her just two months of jail and him five months in prison for bribing her daughters’ way into college. No … Read more
His handlebar moustache ‘disguise’ has long gone. So, too, the £10,000 ostrich-hide jacket he was sporting when his whereabouts as a ‘fugitive’ in England were first uncovered. But then Nirav Modi’s entire life has changed beyond recognition. Most significantly, his place of residence for the past 14 months has not been the Manhattan apartment he … Read more
Russian airline boss, 46, accused of £2.3million fraud while working at VIM airlines should not be extradited because jails in her homeland are unsafe, court hears Alevtina Kalashnikova, 46, allegedly stole 212million rubles from 2014 and 2017 She appeared at Westminster Magistrates’ Court today with a Miu Miu handbag Kalahsnikova allegedly used the now defunct VIM … Read more
London born hedge fund boss Sanjay Shah is suspected of swindling Danish tax authorities by setting up sham trades A London-born hedge fund boss accused of masterminding a £1.5billion tax fraud is facing one of the most expensive trials in British legal history. Sanjay Shah is suspected of devising an elaborate scheme to swindle Danish … Read more