Operation Tidworth was the FCA’s second largest ever criminal prosecution. The instigator and main beneficiary of the fraud, Michael Nascimento, will be sentenced separately on 14 September 2018. In a case brought by the Financial Conduct Authority (FCA), 5 individuals have been sentenced to a total of 17.5 years’ imprisonment for their roles in a share [...]
Another month goes by and the Spanish authorities hand out another criminal conviction to someone involved in top-level football. This time it is Jose Mourinho that has been handed a one-year suspended jail sentence for tax fraud along with an additional fine of £1.8 million by the Spanish authorities for tax evasion. The fine equates to [...]
.... another £6 million lost by investors This is money today reported that a British businessman dubbed the 'bling king' is being investigated for money laundering and fraud after expats lost up to £6 million by investing in his companies. Money Mail has spoken to a number of residents on the Costa del Sol who say [...]
The UK’s Action Fraud revealed that it received 203 reports of cryptocurrency scams in the first two months of the summer. Between June and July 2018, victims collectively lost just over £2 million, an average of £10,096 per person. Action Fraud, the UK’s national fraud and cybercrime reporting centre, warned that the surge in popularity of [...]
A man from Glasgow placed on FBI’s 'most wanted' list James Alexander Ward, 65 has been on the run for six years after being accused of ripping off victims in a precious metals fraud scheme in Fort Lauderdale, Florida. Ward, also uses the name Jamie, regularly dyes his red hair and uses aliases. He is known [...]
All major retail banks are aware of the payment redirection scam and you should be too. Payment redirection is a scam where you’re typically sent an email asking you to set up a payment to a new account or to amend existing account details. The successful ones almost always come from a supplier or contractor you're [...]
Reported widely by BBC News this morning is a new TV advert from the Financial Conduct Authority and the Pensions Regulator warning of the huge increase in Pension Scams. With a shocking average loss of £91,000 per victim, you can understand why the regulator is worried and why it still proliferates. The full story on the [...]
Although IYE Global was formed recently our investigators have significant international experience in criminal investigation. A case recently concluded, followed a two-year investigation involving fraud across three continents. IYE working closely with the FBI and others have been instrumental in bringing two more criminals to justice. Daniel Dirk CODDINGTON and Jesse W ERWIN JR have entered a guilty [...]
We have covered a few fraud cases in the IYE Global blog posts and also covered the targeting of professional sportsmen and women by fraudsters as they are seen as cash rich. One area we have not yet covered is the devastating impact this can have on the mental health of the victims. This can range [...]
The Times today reports further details of the picture emerging of the Beaufort Securities scandal. As they report, as City scandals go, the collapse of Beaufort Securities was a humdinger. Having been shut down by the financial conduct authority in March 2018, it was reported just hours later the London-based stockbroker was under criminal indictment in [...]