Private Sector

The Financial Services Compensation Scheme has declared 21 companies in default, including one owned by two brothers sentenced to 11 years in prison for defrauding clients out of £17m.

https://www.ftadviser.com/your-industry/2019/05/17/firm-involved-in-17m-fraud-declared-in-default/

Former Autonomy CFO Sushovan Hussain has been fined $4m (£3.09m) and sentenced to five years’ imprisonment in the US after being found guilty of fraud over the sale of the software company to Hewlett Packard (HP) in 2011

https://economia.icaew.com/news/may-2019/ex-autonomy-cfo-jailed-for-five-years#.XNvMgrNw4UU.twitter

An ex-estate agent is now due to be sentenced this summer after pleading guilty to two charges of fraud.

(Reuters) - The former chief financial officer of British software company Autonomy was sentenced on Monday to five years in prison, after a U.S. jury found him guilty of fraud over the $11.1 billion sale of Autonomy in 2011 to Hewlett-Packard.

https://uk.reuters.com/article/us-hpe-autonomy-cfo/ex-autonomy-cfo-sentenced-in-u-s-to-5-years-prison-over-hewlett-packard-fraud-idUKKCN1SJ29H

Companies House has tabled anti-fraud reforms affecting PSC owners, in what ministers are hailing as the biggest changes to the system of setting up and running a company since 1844.

https://www.contractoruk.com/news/0014087companies_house_fraud_changes_incoming_limited_companies.html

An accountant from Northamptonshire who committed a £3.35 million pound fraud on high-profile clients including pop star Rita Ora and retired England rugby captain Matt Dawson has been jailed for nearly six years.

https://www.itv.com/news/central/2019-05-08/rita-oras-northamptonshire-accountant-jailed-over-3-35-million-fraud/

Bloomberg reports Amazon have faced an extensive six-month fraud which saw hackers stealing money from sellers’ accounts last year.

A businessman has been jailed for defrauding the European Union and the Welsh Government out of £4.7m by misusing cash meant to help process fish feed.

Hewlett Packard (HP) is not suing Autonomy’s former US chief executive in order to use his evidence against British businessman Mike Lynch in the biggest fraud trial in UK history, a court heard today.

http://www.cityam.com/277263/hp-not-suing-autonomy-us-exec-go-after-mike-lynch-fraud

Major reforms aimed at combatting financial crime and better protecting directors from fraud have been unveiled today.