Serious Fraud Solicitors
At Blackfords LLP, our Serious Fraud Solicitors are routinely instructed in the highest profile fraud investigations and criminal proceedings. We act both in the UK and internationally, where there are cross border, multi-jurisdictional issues. Our expert lawyers advise and represent both individuals, corporations and their directors and officers.
Please speak with any of our key contacts for assistance with any of these issues. Alternatively, email info@blackfords.com or phone 03330 150150.
Blackfords LLP: Our Expert Serious Fraud Solicitors.
Our unsurpassed experience includes dealing with matters such as:
- Fraud arising from tax investigations or false accounting.
- Banking rate manipulation such as Libor and FX frauds.
- Insider dealing.
- Land bank frauds.
- Rare Earth Metals frauds.
- Boiler room frauds.
- Ponzi or Pyramid Scheme frauds.
These are all complex matters that we can immediately assist with. Our lawyers are used to dealing with last minute instructions to act for clients who have received a dawn raid or have been arrested. Where notice is given that an investigation has commenced, we can liaise with the investigation team to minimise the impact of their enquiries on your personal or professional lives. We can assist in agreeing a timetable that suits you for engagement with the investigation team.
We are used to dealing with investigations brought by the Serious Fraud Office, Financial Conduct Authority or the National Crime Agency.
Please speak with any of our key contacts for assistance with any of these issues. Alternatively, email info@blackfords.com or phone 03330 150150
What Is Serious Fraud?
There is no clear-cut definition for Serious Fraud. It typically involves high-value or organised crime relating to fraud including:
- Money laundering
- Insider Trading
- Tax fraud and evasion
- Bribery and corruption
- Immigration fraud
- Benefit fraud
- Council Tax fraud
- Financial Fraud
- Insurance Fraud
- Investment fraud
- Mortgage fraud
Serious Fraud may also refer to bribery and corruption, money laundering or cheating the public revenue. Both individuals and businesses can be investigated for serious fraud.
If you are suspected of wrongdoing by the SFO, FCA or NCA it is essential that you get legal advice immediately. Contact us today on info@blackfords.com or phone 03330 150 150.
Frequently Asked Questions
Who Investigates Serious Fraud?
The Serious Fraud Office (SFO) is largely responsible for investigating serious fraud in the UK and overseas. They may investigate cases of serious or complex fraud, including bribery and corruption. However, investigations are also undertaken by police forces throughout the UK, the Financial Conduct Authority (FCA) and the National Crime Agency (NCA).
What Does the Serious Fraud Office Do?
The SFO is a department of the government that investigates and prosecutes fraud and corruption. Its jurisdiction covers England, Wales and Northern Ireland. It is also the main enforcer of the Bribery Act 2010.
Investigations will scrutinise the individual and businesses, where necessary and decide if these actions have contributed to wrongdoing.
The SFO may authorise an investigation, it will consider whether there was intended or actual harm that could be caused to:
- The UK economy
- The reputation of the UK from a financial standpoint
- The public
What Should I do If I am Being Investigated for Serious Fraud?
If you are being investigated for serious fraud, it is essential that you contact one of our serious fraud solicitors on info@blackfords.com or 03330 150 150. We can advise you on your next steps and ensure you do not prejudice your position. If necessary, our team can help you to strategise your defence and represent you during any legal proceedings.
What are the Consequences of Serious Fraud?
The punishments for serious fraud can vary depending on the crime that is alleged. Consequences for serious fraud can include:
- Prison Sentences: Large-scale fraud may result in a prison sentence upwards of ten years.
- Fines: Depending on the extent of the fraud and damage caused, fines can be extremely high, even reaching the millions in some cases.
- Confiscation Orders: The court can issue confiscation orders to reclaim any financial benefits that were obtained through fraud under the Proceeds of Crime Act 2002.
- Damaged Reputation: Being found guilty of fraud can significantly damage your reputation for a long time. This can impact any future employment opportunities.
- Disqualification: In some cases, a fraud conviction may result in disqualification from specific roles. This includes being disqualified as a company director.
What Crimes Count as Serious Fraud?
Serious fraud is an umbrella term for multiple different crimes. Offences that often fall into the serious fraud category are those that are high-value or complex. This can include fraudulent misrepresentation, insider trading, money laundering, tax fraud, pension fraud, mortgage fraud, insurance fraud, benefit fraud and more.
You should get professional legal advice if you are being investigated, or think you may be investigated for fraud.
How does the SFO Decide to Investigate an Allegation of Serious Fraud?
The SFO will enact a ‘pre-investigation’ stage to ensure that the case can be pursued. It often receives information from whistleblowers, victims, journalists or other law enforcement agencies.
The information that the SFO receives is then considered and the Director of the SFO will decide if the case meets the standard to commence an investigation.
How is Serious Fraud Defined?
Serious fraud refers to white-collar crimes such as money laundering, tax evasion, bribery and corruption.
Characteristics of serious fraud include:
- Organised involvement
- Complexity
- High financial value
What is Insider Trading?
Insider trading occurs where information that is not publicly available is used by someone for their own or another’s benefit to either buy or sell company stock at an advantage over others trading in the market.
What is a Ponzi Scheme?
A Ponzi scheme is a form of investment fraud whereby money is paid to early investors that is taken from later investors in order to create an illusion of larger profits.
The scheme promises high reward with little risk; however it collapses when less money comes in and it becomes impossible to provide promised payments.
What is a Pyramid Scheme?
A pyramid scheme is an illegal form of investment whereby each participant recruits multiple other participants. Rather than the money being earnt by sales of goods or services, money is earnt by recruiting paying new members.
The system collapses when it becomes impossible to recruit new members as the lower level will not make a profit. This unsustainable scheme has led to it being classified as fraud.
If you are suspected of wrongdoing by the SFO, it is essential that you get legal advice immediately. Contact us today on info@blackfords.com or phone 03330 150 150.
