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A CHILDREN'S nursery finance manager has been jailed for more than two years after economic crime investigators were able to uncover the vast scale of a fraud.
Kerry McGavigan worked for The Enchanted Wood Nursery, which is based in Benfleet, for seven years.
She had sole responsibility for the nursery’s accounts and raised numerous false invoices for work which was either never carried out or was carried out but for a fraction of the bill. All of the money associated with those fake invoices was paid into her own accounts.
The former finance manager also spent about £20,000 using the company credit card incorrectly.
David Cardoza, the former chairman of Northampton Town, has been charged, alongside his father, with fraud in the long-running investigation into £10m of public money loaned to the club for a new stand that was never completed.
Cardoza, 54, is one of five men with former links to the redevelopment of Sixfields Stadium due to appear in court on Thursday charged with several counts of fraud and money laundering a decade after the money went missing.
https://www.theguardian.com/football/2025/jan/15/former-northampton-town-owner-david-cardoza-charged-fraud
New research from Visa reveals that more than two fifths (41%) of small-medium businesses in the UK have been a victim of fraud, with the average amount lost due to fraudsters in the last year being £3,808.
Bank account hacks (23%), billing and invoice fraud (26%) and phishing scams (24%) were the most common types reported
The survey also found that fraud can have a detrimental impact on SMEs’ ability to grow their business with consumers placing a high premium on security.
Research from the UK’s leading fraud prevention service, Cifas, has revealed that nearly two-thirds (63%) of decision makers in large UK businesses are worried that employees will be targeted by fraudsters, with 50% of respondents fearing staff will become an ‘insider threat’.
https://www.cifas.org.uk/newsroom/exploitingworkers
Not too long ago, pharmaceutical giant Astrazeneca reached a £200bn valuation—one of only a few London-listed FTSE 100 companies to do so.
The major milestone was a testament to CEO Pascal Soriot’s strategic overhaul over the past decade, which has steered Astrazeneca away from its historic focus on respiratory and primary care toward a successful portfolio of cancer drugs.
But that valuation has slipped by nearly a quarter in just two months. Astrazeneca’s market capitalisation has now fallen as low as £152bn.
From September 1 2025, an organisation may be criminally liable for not having reasonable fraud prevention procedures in place in cases where an employee, agent or subsidiary commits a fraud to benefit the organisation.
Last week (November 6), the Home Office published guidance relating to the new offence of failure to prevent fraud.
The corporate offence aims to influence changes in compliance and culture as with the UK Bribery Act 2010.
A man has been arrested over the mass theft of cheese from a London dairy.
Detectives investigating the disappearance of 22 tonnes of cheese from Neal’s Yard Dairy have arrested a 63-year-old man on suspicion of fraud by false representation and handling stolen goods.
A man has been put behind bars after using salary sacrifice schemes to defraud organisations up and down the country and rack up thousands of pounds.
Joshua Murrell was sentenced to more than two-and-a-half years in prison after admitting guilty to one count of conspiracy to defraud, seven counts of fraud by false representation and one count of possession of articles for use in fraud.
https://www.expressandstar.com/news/local-hubs/dudley/kingswinford/2024/10/16/dudley-fraudster-who-stole-thousands-from-company-salary-sacrifice-schemes-jailed/
Midland car giant Jaguar Land Rover is investigating after a worker involved in a £70,000 expenses tax fraud claimed he "did what everyone else was doing". The scam was dubbed "Tommy's Tax" and Birmingham Crown Court heard it involved an external "financial advisor of sorts who was encouraging people who worked for JLR to commit this fraud".
https://uk.news.yahoo.com/jlr-speaks-70k-tommys-tax-100411737.html
Companies House is prosecuting steel tycoon Sanjeev Gupta alongside four directors for failing to lodge accounts for 76 companies in the UK.
Gupta, as well as directors Iain Hunter, Deepak Sogani, Jeffrey Kabel and Jeffrey Stein have all pleaded not guilty to the enforcement, which could see each be fined or disqualified as a director.
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