Fake death pensioner 'was greedy'

 Anthony McErlean, 66, was jailed for six years for faking his own death in Honduras in 2009 to get a life insurance claim worth £520,000. He also admitted two counts of theft from a pension fund from the Port of London Authority of £27,000 pounds and £40,658 pounds from the Department of Work and Pensions. The pensioner had impersonated his wife to claim he himself had died after being hit by a truck as he was changing a tyre on a road in the Central American country. A fake witness statement was produced to back up story which said farm...

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Rio hit with £500k bill after losing court battle

The England and Manchester United star will now be saddled with paying the estimated £500,000 legal bills incurred by the Sunday Mirror in defence of the lawsuit.Ferdinand sued the newspaper for misuse of private information after they published details of his 13-year relationship with interior designer Carly Storey, who accepted £16,000 for telling the tale of her liaisons with the defender.But Mr Justice Nicol dismissed the case at London's high court on Thursday, and refused Ferdinand's legal team permission to appeal."Overall, in...

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Paramedics Who Tried To Save Singer's Life Give Evidence

 Alberto Alvarez was in charge of back stage during Jackson's final rehearsal on June 24, 2009. He described Jackson as "happy and in good spirits" during the performance. "He was doing very well for the most part," he told the Los Angeles court. He explained that he later drove Jackson back to his rented Holmby Hills home and saw Dr Murray's car parked there. He said the last time he saw Jackson alive was when he said "good night" to the singer. Mr Alvarez was the first person who went into Jackson's bedroom after Dr Murray telephoned for...

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Raids in 7 countries in $200M investment fraud

 Dutch authorities say raids have been conducted in seven countries in connection with an alleged $200 million investment fraud scheme, and four men have been arrested. The country's financial crime prosecutors say they suspect hundreds of investors were conned into fraudulent investments in U.S. life insurance policies by a firm called Quality Investments BV. Prosecutors said Wednesday four Dutch men have been arrested, two in the Netherlands and one each in Switzerland and Turkey. Raids were also conducted in Spain, Dubai, England and the...

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Global swoop nets huge haul of fake drugs: Interpol

 Police and customs officers from 81 countries have seized 2.4 million doses of counterfeit medicine sold over the Internet during a one-week operation, international police body Interpol said Thursday. Fifty-five people were arrested during the September 20-27 operation, codenamed Pangea 4, and more than 13,000 websites closed down, Interpol said. More than 100,000 illegal doses were seized in France, over half of which were for supposed to be for treating male erection problems, France's medical security agency that took part in the operation,...

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UBS CEO Gruebel resigns over rogue trading loss

 UBS chief executive Oswald Gruebel has resigned over a $2.3 billion loss caused by rogue trading at its investment division, which is to be restructured now to prevent similar incidents in future, the Swiss bank said Saturday. Gruebel, who had come under heavy pressure from shareholders over the scandal, said he hoped his resignation would allow the bank to restore its reputation in the eyes of clients and investors. Article Controls EMAIL REPRINT NEWSLETTER SHARE "As CEO, I bear full responsibility for what occurs at UBS ( UBS - news...

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Ms Moran, 56, looked a shadow of her former self as she arrived to face 21 charges at Westminster Magistrates’ Court in central London.

 One count alleges that she falsely claimed £22,500 for dry rot on a home in Southampton more than 100 miles from her constituency.The former Labour member for Luton South sobbed throughout the brief hearing and was passed a tissue by a court official.No plea was entered and jurisdiction in the case was declined by District Judge Daphne Wickham on the grounds of the nature and complexity of the charges and sums involved.They allegations consist...

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Man quizzed over UBS rogue trading

 31-year-old man was arrested in London today in connection with allegations of £1.3 billion of rogue trading at Swiss banking giant UBS. The man, named in reports as Kweku Adoboli, was arrested at 3.30am on suspicion of fraud by abuse of position and remains in police custody, sources said. Related articles Notoriety awaits UBS rogue trader French banks scramble to prove they're strong enough for debt crisis Search the news archive for more stories The bank, which has 6,000 staff in the UK, revealed earlier that a trader had lost two billion...

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UBS hit by $2bn rogue trade

 Matthew Czepliewicz, an analyst at Collins Stewart, said the unauthorised loss cuts his 2011 earnings-per-share estimate for UBS by about 30pc - "a huge hit". He continued: "A loss of this magnitude will very likely have occurred in the FICC (Fixed Incomes, Currencies and Commodities) division, the very division UBS has been systematically rebuilding after shrinking it by 40pc during the credit crisis. That an unauthorised position of this size could have escaped oversight will renew pressure on management to radically scale back the FICC...

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Iranian mogul at center of ‘unprecedented’ bank fraud claims

 Iranian regulators have blocked the assets a mega-tycoon accused of masterminding a $2.6 billion bank fraud described as the biggest financial corruption scam in Iran’s history, state media reported Monday. The probe also could spill over into Iran’s internal power struggles between President Mahmoud Ahmadinejad and the ruling clerics. The suspect — identified by the hard-line Kayhan newspaper as billionaire mogul Amir-Mansour Aria — is seen as linked to the so-called “deviant current” of Ahmadinejad allies who are facing arrests and crackdowns...

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Livent Executives’ Fraud Convictions Are Upheld

 An appeals court on Tuesday upheld the fraud convictions of the Canadian impresario Garth H. Drabinsky and his former business partner, Myron I. Gottlieb. The two men, who founded and controlled the now-defunct production company Livent and brought shows like “Ragtime” and a revival of “Showboat” to Broadway, were convicted in 2009 of defrauding investors of about 500 million Canadian dollars ($501.2 million) through a complex system of kickbacks and by routinely altering the company’s financial statements. The Court of Appeal for Ontario,...

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South London men face furniture drug smuggling charges

 Six men have gone on trial accused of conspiring to smuggle more than £2.5m of cocaine into the country. Kevin Hill, 27, of Cartmel Gardens, Morden, Wayne Smith, 19, of Westmoreland Way, Mitcham and Carl Charles, 33, of Yorkshire Road, Mitcham, face charges of attemtping to import 13.5kg of the drug. Three other men Craig Hughes, 35, from Orpington, Conrad Crandon, 55, from Edmonton and Terence Tremblett, 32, from Brixton, also face the same charge. The offences date back to October and November, in 2009, when border agency officers at...

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Illegal alcohol find ‘one of the UK’s largest seizures’

 A QUARTER of a million pounds worth of illegal alcohol has been seized in a raid in Glasgow. Officers from HM Revenue & Customs (HMRC) took the illegal alcohol and dismantled an alcohol relabeling factory after a two-day operation and have claimed the seizure is one of the largest in the UK. A Glasgow man has been charged with evasion of duty following the discovery last we...

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Pepper Pike lawyer faces up to 21 years in prison in stock scam

 Pepper Pike attorney James Margulies was sentenced Friday to up to 21 years in prison for his role in a $110 million stock fraud . Judge Gregory Carro also ordered Margulies to make restitution of $7 million, money that prosecutors said he pocketed in the pump-and-dump scheme. The defense later disputed the amount and the judge put the order on hold until a Sept. 26 hearing. Margulies, 47, and other co-conspirators artificially inflated the price of shares in Industrial Enterprises of America; lured in buyers; then dumped their stock, leaving...

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Daniel McDonagh, also known as Daniel Pomeroy, 23, from Oldham, is wanted by Greater Manchester Police’s Fraud Unit investigating an alleged scam in which the identities of high-profile businesses were hijacked

Daniel McDonaghA man is being hunted in connection with two alleged frauds worth almost £30m.Daniel McDonagh, also known as Daniel Pomeroy, 23, from Oldham, is wanted by Greater Manchester Police’s Fraud Unit investigating an alleged scam in which the identities of high-profile businesses were hijacked and millions of pounds worth of goods fraudulently ordered.Three people have already been charged in connection with this offence in which men claiming...

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Citigroup banker faces 30 years in jail after admitting $22m fraud

 Former Citigroup banker Gary Foster has pleaded guilty to embezzling $22m (£14m) from the bank, money he spent on a lavish lifestyle of fast cars and fancy apartments. He faces up to 30 years in jail. The 12-year Citigroup veteran spent hundreds of thousands on cars including a Ferrari and a Maserati Gran Turismo, even though he is legally blind and was unable to drive them. He hired a chauffeur. Foster, 35, was arrested in June at John F Kennedy Airport as he was getting off a flight from Bangkok. He had quit the bank in January before...

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Four men jailed after £17m VAT scam

 FOUR men, including one from the Midlands, have been jailed for their roles in a criminal gang that conspired to steal £17million of taxpayers’ money. Nine men were previously jailed for a total 21 years. A further defendant has been charged and is due to stand trial. Investigators from Revenue And Customs smashed the multi-million pound fraud which centred on the mobile phone industry. VAT claims to steal a further £5million had been made. Paperwork recovered during house searches showed the gang were planning on a further fraud to...

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British expat arrested in Phuket today was on a list of fugitives wanted by an international division of the UK’s Serious Organized Crime Agency (SOCA)

Paul Ridden in detention in Phuket. Photo: Lars Goran Dikander.PHUKET: A British expat arrested in Phuket today was on a list of fugitives wanted by an international division of the UK’s Serious Organized Crime Agency (SOCA), the Phuket Gazette has learned.Paul Ridden, 58, was arrested today after being fooled into meeting a friend in front of Chalong Police Station.When he drove into the police station car park, his exit was blocked by...

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Businessman jailed over gang's £17m VAT fraud

 Shabir Anwar Ahmed, 52, from Glasgow, was sentenced to four years in prison after admitting conspiracy to steal taxpayers' money between February and December 2005. He was also disqualified from being a company director for four years for his part in the multi-million pound operation which centred around the mobile phone industry. Ahmed, who was sentenced at London's Southwark Crown Court on Monday, was part of a group that used sham companies to import goods from Europe, including mobile phone accessories, which were exempt from VAT at...

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former MP Margaret Moran, who is to face 21 charges in relation to claims she made for parliamentary expenses.

File photo of former MP Margaret Moran, who is to face 21 charges in relation to claims she made for parliamentary expenses. Photograph: Michael Stephens/PAThe former Labour MP who claimed for dry rot treatment on a home more than 100 miles from her constituency will be charged with fiddling her expenses by more than £60,000, prosecutors said today.Margaret Moran, one of the last politicians investigated over the scandal, will appear before magistrates...

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TV cameras to be allowed into criminal trials

 David Cameron is expected to pave the way for the historic move in a long-awaited speech on crime planned for later this month. However, the televised coverage is expected to be limited and will not allow cameras to record witnesses giving evidence as occurs in America. Television cameras are currently banned from most courts in England and Wales although the proceedings of the new Supreme Court - the top court of appeal which replaced the law lords - can be broadcast. Some Scottish court cases are also televised, including proceedings involving...

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Bosses of banks saved by taxpayer earn more now than before crisis

 The bosses of Britain’s bailed-out banks are paid more than they were before the credit crunch struck, a damning report reveals today. The chief executives of the country’s basket-case lenders earned an average basic salary of more than £1.1million last year before bonuses or other benefits. Shockingly, this figure is an increase on the £1million average from 2007 – the year that the financial crisis struck, crippling Britain and plunging the country into recession. Despite the fact that they have the job of salvaging the banks propped...

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Share slump hammers Euro banks

 Stocks in Europe and Italian fixed-income securities were pummelled on concern about the euro zone's debt crisis. The benchmark Stoxx Europe 600 Index ended the day with a 4.1 per cent drop. US and Canadian financial markets were closed for the Labor Day holiday. Financial stocks led the decline in Europe as Deutsche Bank chief Josef Ackermann said profit in the banking sector would be curtailed for years because of the sovereign debt crisis and some banks would likely fail. "Prospects for the financial sector overall ... are rather limited,"...

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Swiss bankers demand respect for law from US tax evasion investigators

 Swiss bankers have rejected another UBS-style tax evasion deal following an ultimatum from the United States last week to turn over the names of more tax cheats. The US has turned up the heat on Switzerland after finding evidence that Credit Suisse and other banks allegedly helped its citizens to break the law by hiding their wealth from the tax authorities. The successful prosecution of UBS two years ago led to a Swiss-US treaty that severely dented Swiss banking secrecy laws by providing the names of nearly 5,000 bank clients.   But...

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Bogus pensions adviser jailed over £1.9m transfer fraud

 bogus financial adviser who fraudulently manipulated his “clients’” pension funds to avoid paying tax of over £1.9m has been jailed at Hull Crown Court for three years. Colin Pearson (pictured), who previously worked for the Food Standards Agency and held a McDonalds franchise, claimed to be a financial adviser and persuaded his "clients" to release over ₤3.4m from their pension funds. Pearson completed UK pension transfer forms on behalf of his clients to falsely claim funds were going abroad to avoid paying tax due on the pension withdrawals,...

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SFO probes banks over asset-backed security sales

 The Serious Fraud Office is conducting an examination into banks and their offering of asset backed securities, as part of a ‘scoping exercise’ to see if products have been misrepresented to UK clients. The watchdog said it is consulting with relevant ‘people in the city’ as part of its broad-sweeping investigation into any potentially fraudulent sales of asset backed securities. A spokesperson for the SFO said: ‘We are conducting a scoping exercise into UK banks about all asset backed securities.’ Although the watchdog said this examination...

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NSW businesses warned of travelling conmen

 Residents and businesses in NSW are being urged to be on the lookout for travelling conmen and itinerant domestic gangs. A nationwide crackdown aims to have scammers who visit Australia seasonally removed from the country and barred from re-entering, as well as local gangs that travel around conning people. NSW Fair Trading Minister Anthony Roberts on Monday warned of conmen specialising in scams such as bitumen laying, roof painting and back-of-truck dealings on electronics. "We want to catch these crooks, hold them accountable for their...

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