Private Sector

Regulators at the Financial Reporting Council have launched an investigation into the auditing of nmcn by accountant BDO.

https://www.constructionenquirer.com/2021/10/21/accountant-being-investigated-over-nmcn-audit/

A businessman whose companies have backed 34 Tory MPs made millions from an allegedly corrupt Russian pipeline deal, leaked files show.

https://www.bbc.co.uk/news/world-58791274?mc_cid=2e5c5a508b&mc_eid=72e89a1d85

A managing director siphoned more than £280,000 of his employer’s funds into three business accounts of a friend, a court heard.

https://cumbriacrack.com/2021/09/27/lake-district-director-jailed-for-280000-fraud/

Oil services group Petrofac has cut a plea deal with the UK’s fraud watchdog in a bid to bring a close to a long-standing inquiry.

https://www.cityam.com/petrofac-cuts-plea-deal-with-uks-serious-fraud-watchdog/

The auditors of collapsed cake chain Patisserie Valerie missed red flags, failed to question management properly and showed a serious lack of competence, according to regulators.

https://www.largsandmillportnews.com/news/national/19606628.patisserie-valerie-auditors-handed-2-3m-fines-failures/?ref=twtrec

An unscrupulous estate agent who conned clients out of more than £180,000 has been jailed for three years.

https://propertyindustryeye.com/rogue-estate-agent-jailed-for-three-years/

Veremark, the global pre-employment screening service that helps companies verify employee credentials, has raised a $2.8m seed round in follow-on investment from ACF Investors, Triple Point Ventures and SOV Ventures. This brings the total funding to $3.8m.

https://londonlovesbusiness.com/startup-raises-2-8m-to-eliminate-cv-fraud-on-a-global-scale/

With the UK Government battling a rising tide of money laundering, a Treasury Committee meeting on economic crime explored ways to increase fraud enforcement funding.

https://www.icaew.com/insights/viewpoints-on-the-news/2021/sep-2021/should-companies-house-hike-fees-to-fund-fraud-policing

O2 is under investigation by the Serious Fraud Office over allegations of bribery, increasing speculation in some quarters that further probes could be possible.

https://www.techradar.com/uk/news/serious-fraud-office-launches-o2-investigation

A British businessman has been arrested and charged in Singapore with fraud for allegedly instructing a company, with ties to the collapsed Germans payments company Wirecard, to forge a letter according to widespread reports.

https://www.cityam.com/british-businessman-arrested-on-wirecard-linked-fraud-charges/