Fraud

Recent Articles

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  28.02.2023

  Czech Republic

  Com­pli­ance man­age­ment sys­tems in Czech crim­in­al law

  Czech criminal law enables legal entities to be exempted from criminal liability if the legal entity makes every effort reasonably required to prevent listed persons from committing crimes. Listed persons include members of a governing body or another person in a managerial position; a person in a managerial position performing managerial or supervisory activities; a person exercising decisive influence over the legal entity’s management; an employee or a person in a similar position performing work. The compliance management system (CMS) represents an effective way to fulfil this. The CMS...

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  10.01.2023

  England and Wales

  Please re­lease me - Court of Ap­peal cla­ri­fies how the scope of a set­tle­ment agree­ment will be con­strued

  The Court of Appeal has given guidance on the construction of a settlement agreement that is expressed to release claims unknown to either party at the date of settlement, confirming that claims in conspiracy (and fraud and dishonesty) were released even though the settlement agreement did not expressly mention such claims. Background Maranello Rosso Limited v Lohomij BV and others [2022] EWCA Civ 1667 concerned the sale by an auction house of a large collection of rare Ferraris, some of which were extremely valuable. The seller had purchased the collection using finance provided by Lohomij and...

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  05.01.2023

  United Kingdom

  Im­port­ant dead­line im­min­ent for Eco­nom­ic Crime Act

  Summary The Economic Crime (Transparency and Enforcement) Act 2022 has set up a new Companies House register for overseas entities that own certain property registered at the Land Registry in England and Wales or the Land Registers of Scotland or Northern Ireland. The Companies House register contains information about the entity and its beneficial owners and the Act impacts on real estate transactions and their registration. There is an important deadline on 31 January 2023 for applications to Companies House to register on the new register and failure to do so may lead to criminal penalties....

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  22.12.2022

  United Kingdom

  Su­preme Court strikes out £116 mil­lion claim for breach of Quince­care duty as claimant held to have suffered no loss

  The UK Supreme Court has handed down its judgment in Stanford International Bank Ltd (In Liquidation) (Appellant) v HSBC Bank PLC (Respondent) [2022] UKSC 34, striking out a significant claim (£116m) for breach of the Quincecare duty on the grounds that the claimant had suffered no loss. The decision is important as another example of a significant claim for breach of the Quincecare duty being unsuccessful. The judgment also provides important guidance as to whether a claimant has suffered recoverable loss as a result of making payments to creditors prior to the claimant’s insolvency....

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  07.12.2022

  England and Wales

  Eng­lish High Court grants sum­mary judg­ment in cryptoasset fraud claim

  The English High Court has recently granted summary judgment in favour of Mr Gary Jones, who brought claims against the First Defendant (the persons unknown who transferred Mr Jones’ cryptocurrencies to other accounts) and Second Defendant (the persons unknown who owned or controlled the accounts into which the cryptocurrencies were transferred) for deceit and unjust enrichment and, included Huobi Global Limited (“Huobi”), as a defendant to get an order that would enable Huobi to transfer Mr Jones’ cryptoassets back to him. Background Mr Jones was the victim of a large-scale...

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  01.12.2022

  England and Wales

  Eng­lish High Court hands down first judg­ment on the new ‘crypto’ ser­vice gate­way

  The English High Court has granted an order requiring a number of crypto exchanges to provide a victim of fraud with information regarding some of their customer accounts and the whereabouts of the victim’s stolen assets. This is not the first time the English court has granted this type of remedy - what is noteworthy is the process that was used to obtain the English court’s assistance. In this Law-Now, we consider the judgment and some of the key takeaways for seeking the English court’s assistance in the fight against crypto frauds. The dispute The case (LMN v Bitflyer Holdings...

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