http://www.dropjack.com/Social-Issues/bark--co-solicitors-ubs-rogue-trader-granted-bail-in-london-court/
LONDON (Reuters) – A London court granted bail on Friday to Kweku Adoboli, a former UBS (UBSN.VX) trader accused of unauthorised deals that cost the Swiss bank $2.3 billion in one of the most high-profile cases of so-called “rogue trading” since the 2008 financial crisis.
Adoboli, who denies charges of fraud and false accounting, was arrested last September when the huge loss came to light.
The British-educated Ghanaian was present during Friday’s bail application at Southwark Crown Court, which was heard behind closed doors to protect the privacy of a group of friends and relatives who offered sureties to help secure bail.
An earlier application for bail was rejected in February and Adoboli has been held at Wandsworth Prison in southwest London.
“He is delighted, hugely grateful to the judge and to his friends and family. It was a very emotional scene,” lawyer Tim Harris, who is acting for Adoboli, told reporters after the hearing.
Adoboli did not immediately walk free because various administrative steps had to be taken first. Harris said he expected Adoboli to be released early next week.
As part of his bail conditions, the ex-trader who used to live in a $1,500-a-week apartment near UBS’s London office will have to live at a friend’s house under curfew and will be tagged. The amount of sureties offered was not disclosed.
A further pre-trial hearing is scheduled for late July and the trial itself is expected to start on September 3.
The stakes are high for Adoboli, who faces a jail sentence of up to 10 years if convicted, but they are also high for UBS, which will face searching questions about its management.
Tuesday, June 26, 2012
Money laundering - Bark & Co Solicitors - Specialist Fraud Firm
http://taikirchem.soup.io/post/258594046/Money-laundering-Bark-amp-Co-Solicitors-Specialist
As one of the leading serious fraud firms in UK, Bark & Co regularly have to advise their clients on the implications of money laundering charges which often accompany investigations and prosecutions of fraud. UK legislation is wide ranging and recent changes to the law have increased the likelihood of money laundering charges being pursued vigorously by the authorities. The team at Bark & Co are experts in the interpretation of the law and in particular the parameters open to the prosecuting authorities in respect of money laundering charges.
In the UK, primary legislation on money laundering includes the Terrorism Act 2000, the Anti-Terrorism Crime & Security Act 2001, the Proceeds of Crime Act 2005 and the Serious Crime and Police Act 2005. Secondary legislation comprises Money laundering Regulations 2003 and 2007. These increasingly stringent regulations put the onus on businesses to ensure that certain controls are in place to prevent them being used for money laundering purposes including customer due diligence measures and internal controls and monitoring systems.
Under UK law, it is a money laundering offence when a person enters into, or becomes concerned in, an arrangement which facilitates by whatever means the requisition, retention, use or control of criminal property (assets or money) by another person. In many cases, the authorities seek to block suspected money laundering activities at an early stage by applying severe constraints even where there is scant evidence of wrong doing. Actions include forfeiture of assets etc.
Bark & Co frequently has cases under way where our clients are facing both fraud and money laundering charges. In one such recent example the FSA and City of London Police had mounted a combined operation into a large boiler room fraud based overseas. This case has been singled out as a good example of the increasing scale and prevalence of this type of fraud and demonstrates how international operations are being used to bypass the UK financial regulations and authorities to launder money abroad. In another fully contended, cut-throat trial, our client was implicated in a conspiracy to defraud a bank of more than £200M, setting up several offshore accounts to money launder the proceeds of the fraud. In all cases, Bark & Co set out to ensure that our experience and expertise is carefully matched to client requirements, utilising the best legal counsel where necessary to achieve the best outcome.
As one of the leading serious fraud firms in UK, Bark & Co regularly have to advise their clients on the implications of money laundering charges which often accompany investigations and prosecutions of fraud. UK legislation is wide ranging and recent changes to the law have increased the likelihood of money laundering charges being pursued vigorously by the authorities. The team at Bark & Co are experts in the interpretation of the law and in particular the parameters open to the prosecuting authorities in respect of money laundering charges.
In the UK, primary legislation on money laundering includes the Terrorism Act 2000, the Anti-Terrorism Crime & Security Act 2001, the Proceeds of Crime Act 2005 and the Serious Crime and Police Act 2005. Secondary legislation comprises Money laundering Regulations 2003 and 2007. These increasingly stringent regulations put the onus on businesses to ensure that certain controls are in place to prevent them being used for money laundering purposes including customer due diligence measures and internal controls and monitoring systems.
Under UK law, it is a money laundering offence when a person enters into, or becomes concerned in, an arrangement which facilitates by whatever means the requisition, retention, use or control of criminal property (assets or money) by another person. In many cases, the authorities seek to block suspected money laundering activities at an early stage by applying severe constraints even where there is scant evidence of wrong doing. Actions include forfeiture of assets etc.
Bark & Co frequently has cases under way where our clients are facing both fraud and money laundering charges. In one such recent example the FSA and City of London Police had mounted a combined operation into a large boiler room fraud based overseas. This case has been singled out as a good example of the increasing scale and prevalence of this type of fraud and demonstrates how international operations are being used to bypass the UK financial regulations and authorities to launder money abroad. In another fully contended, cut-throat trial, our client was implicated in a conspiracy to defraud a bank of more than £200M, setting up several offshore accounts to money launder the proceeds of the fraud. In all cases, Bark & Co set out to ensure that our experience and expertise is carefully matched to client requirements, utilising the best legal counsel where necessary to achieve the best outcome.
Tuesday, May 22, 2012
Bark & co Solicitors: Met to review Daniel Morgan murder over claims of News of the World link
http://www.guardian.co.uk/media/2012/feb/29/met-review-daniel-morgan-murder
Scotland Yard is carrying out a full forensic review of the Daniel Morgan murder 25 years ago amid allegations that the News of the World under Rebekah Brooks attempted to subvert the inquiry into the killing.
The revelation came as Nick Herbert, the police minister, told MPs a judicial inquiry into the murder was under consideration. The death of Morgan, a private detective who was killed with an axe to the head, has for two decades been mired in allegations of police corruption involving a detective agency using officers to provide information to sell to tabloidnewspapers.
Speaking at an adjournment debate brought by the Labour MP Tom Watson, Herbert said it was a serious issue, and that the corruption and the lack of justice for the family needed to be addressed. He said the home secretary was considering a judicial inquiry but another option of an outside force being brought in with the oversight of a QC was also being considered by himself and the home secretary.
Bark & Co Solicitors London: Met Police review Daniel Morgan murder over News of the World link
http://www.barkco.com/News/Met+Police+review+Daniel+Morgan+murder+over+News+of+the+World+link
Bark & Co has been instructed by Glenn Vian since the mid-2008. Not guilty verdicts were entered against MrVian and the other defendants, following complex and fiercely fought challenges to the Crown’s case during protracted pre-trial legal argument. The initial investigation into the murder of Daniel Morgan in 1987 was deeply flawed, and many compelling leads were not pursued properly or, in some cases, at all. The level of public resources expended in this most recent investigation is simply breathtaking. The Police bought the house next door to Mr Vian, in order to conduct thousands of hours of intrusive covert surveillance upon him and his family. They released false stories to the press in an effort to trigger incriminating conversations. When these efforts failed to produce any cogent evidence, a case was built against these defendants using “supergrass” witnesses, and considerably flawed Serious Organised Crime & Police Act (SOCPA) agreements. It will come as no surprise to right thinking people to learn that those of the worst character, facing many years in custody for crimes including drug trafficking and attempted murder, will say anything in order to secure a massive reduction in their sentence and/or substantial financial benefits. The position is very much worse where, as in this case, aSOCPA witness is told in advance what the case theory is, and simply has to repeat it to gain his reward. Thedefence has, in the course of pre-trial legal arguments, been able to discredit the Crown’s case so that, one by one, the evidence of these witnesses has been excluded by the trial Judge or abandoned by the Crown. The recent legal arguments which preceded the collapse of the case were led by our defence team, based on a document found in the unused material by a solicitor of this firm.
Bark & Co has been instructed by Glenn Vian since the mid-2008. Not guilty verdicts were entered against MrVian and the other defendants, following complex and fiercely fought challenges to the Crown’s case during protracted pre-trial legal argument. The initial investigation into the murder of Daniel Morgan in 1987 was deeply flawed, and many compelling leads were not pursued properly or, in some cases, at all. The level of public resources expended in this most recent investigation is simply breathtaking. The Police bought the house next door to Mr Vian, in order to conduct thousands of hours of intrusive covert surveillance upon him and his family. They released false stories to the press in an effort to trigger incriminating conversations. When these efforts failed to produce any cogent evidence, a case was built against these defendants using “supergrass” witnesses, and considerably flawed Serious Organised Crime & Police Act (SOCPA) agreements. It will come as no surprise to right thinking people to learn that those of the worst character, facing many years in custody for crimes including drug trafficking and attempted murder, will say anything in order to secure a massive reduction in their sentence and/or substantial financial benefits. The position is very much worse where, as in this case, aSOCPA witness is told in advance what the case theory is, and simply has to repeat it to gain his reward. Thedefence has, in the course of pre-trial legal arguments, been able to discredit the Crown’s case so that, one by one, the evidence of these witnesses has been excluded by the trial Judge or abandoned by the Crown. The recent legal arguments which preceded the collapse of the case were led by our defence team, based on a document found in the unused material by a solicitor of this firm.
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