Three UK advisers arrested in £132m tax-dodging fraud
Three UK tax advisers have been arrested as part of a HM Revenue & Customs (HMRC) investigation into a suspected £132m ($173m, €157m) fraud involving offshore trusts.
Fraud
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Lionel Messi sentenced to 21 months for tax fraud
Argentinean footballer Lionel Messi has been sentenced to 21 months in prison for tax fraud by a Spanish court after being found guilty of defrauding Spain of €4.1m (£3.5m, €4.6m) between 2007 and 2009.
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UK pensions regulator steps in to protect savers
The Pensions Regulator (TPR) has appointed independent trustees to a pension transfer scheme paying commission up to 30%, after finding that nearly £6m of pensions savings were being put at risk.
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LMIM investor group exploring UK legal options
An investors group for victims of the LM Investment Management collapse is looking at the feasibility of bringing legal action in England & Wales, as well as other jurisdictions.
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UK investment scams cost victims £20,000
Victim of investment scams lose an average of £20,000 ($26,780, €24,115), according to UK consumer champion Citizens Advice.
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Ex-Credit Suisse banker pleads guilty to aiding tax evasion
A former Credit Suisse banker, who has been on the run for five years, pleaded guilty in a US federal court on Wednesday to helping Americans evade paying tax.
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US SEC acts against adviser defrauding pro athletes
The US Securities and Exchange Commission said it has obtained a court order freezing the assets of an investment adviser charged with secretly siphoning millions of dollars from professional sports stars in an alleged Ponzi scheme.
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Arck advisers ordered to pay just £562k following £50m fraud
Two UK financial advisers, who gave clients bad advice to invest in fraudulent property investment scheme Arck LLP, have been ordered to pay £562,766 ($807,721, €716,087) for their part in the £50m scam.
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FCA charges five in £2.75m boiler room scam
Five people appeared at London’s Southwark Crown Court on Thursday accused of promoting and selling shares in a company through a succession of boiler room scams.
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Ex-Irish Life chief executive guilty of conspiracy to defraud
Former Irish Life and Permanent chief executive Denis Casey has been convicted of conspiracy to defraud in the run-up to the 2008 banking crisis.
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FCA bans two fraudsters over ‘risky’ pension investments
A British financial adviser and his boss have been banned from working in the financial services industry for lying to clients about where they invested pension pots totalling nearly £24m ($34.9m, €30.7m).
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Over-55s still unclear about pensions freedoms
Nearly half (43%) of over-55s in the UK do not understand the financial options available to them more than a year after the government introduced the pension freedoms, with 15% admitting to having no understanding at all.