Called to account

Insight / US oil data company charged with $100m fraud

The Securities and Exchange Commission (SEC) has charged an international oil and gas exploration seismic data company, SAExploration Holdings (SAE), and four former executives over a multimillion dollar accounting fraud stretching back five years

Insight / Two forex agents banned over mis-used £9m

Two foreign exchange agents have been banned for a total of 24 years after securing more than £9m from clients, only to use the funds to payback previous clients

Insight / Software pioneer John McAfee faces US tax evasion charges

The US authorities have charged John McAfee, businessman and cyber software expert, with tax evasion and wilful failure to file tax returns for four years, claiming he diverted his income into hidden bank accounts and concealed assets

Insight / Company directors banned for £500K tax offences

Two directors who separately managed an estate agent and a convenience store have been disqualified after they caused their companies to abuse the tax regime, resulting in over £500,000 owing to HMRC

Insight / Called to account: October 2020

In this month’s scandals, convictions and penalties, US rapper, film producer and others charged over bogus cryptocurrency promotion, CEO who swindled a charity’s pension scheme, and a motorhome company director was disqualified after guaranteeing return prices which could not be met

Insight / Ex Amazon finance manager on insider trading charges

A former finance manager at Amazon and two family members have been charged making $1.4m (£1.09m) from insider trading using confidential information in advance of Amazon earnings announcements

Insight / Motorhomes boss banned after creditors claim £660k in liquidation

The director of a Scottish-based motorhomes company has been disqualified for eight years after guaranteeing return prices to customers for their vehicles which could not be met

Insight / Betting scheme owner pulled up over missing £39m

The owner of a horse racing betting syndicate who misappropriated more than £39m via a sham scheme has seen his bankruptcy restrictions extended by 14 years

Insight / Director banned over £19m investment failure

The boss of a holiday parks firm has been banned for 14 years after the Insolvency Service discovered investors were owed more than £19m in a failed investment scheme involving luxury lodges

Insight / US rapper fined over bogus cryptocurrency

The Securities and Exchange Commission (SEC) has brought charges against a US rapper, a film producer and three others over allegations they promoted unregistered and fraudulent initial coin offerings (ICOs) using celebrity endorsements 

Insight / Events bosses banned for 18 years

A husband and wife team who ran an events and promotions marketing company based in Gateshead have been banned as director for 18 years after abusing the tax regime

Insight / Charity fraudster to pay back £250,000

A CEO who swindled a charity’s pension scheme out of more than £250,000 has been ordered to pay back the money following legal action by The Pensions Regulator (TPR)

Insight / Called to account: September 2020

In this month’s scandals, convictions and penalties, Illegal pension introducers ordered to repay after misleading investments, Ex CEO ordered to pay fine over accounting fraud charges, and Football club director’s bankruptcy extended over funds abuse

Insight / Herbalife Nutrition fined $123m over corrupt payments

Global supplement and weight management company Herbalife Nutrition Ltd has been ordered to pay over $123m (£91m) in fines and penalties for accounting violations, including the payment of bribes, following two regulatory actions in the US

Insight / Football club director’s bankruptcy extended over funds abuse

A former Northampton Town Football Club director has had his bankruptcy restrictions extended after abusing funds that should have gone to redevelop the club’s stadium
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