SFO go again. Next up [after Glencore] are the Balli Steel executives and a $150 million fraud
Following the SFOs milestone sentencing of Glencore last week, the SFO’s work to investigate and prosecute the biggest and most complex cases of economic crime continues.
This week in court, they heard key witness evidence in the trial of four Balli Steel executives for over $150 million of fraud,
The SFO has heard witness evidence from a former employee of The Development Bank Singapore, one of the banks Balli is charged with defrauding.
The SFO’s investigation – opened after Balli collapsed in 2013 with debts of over £300 million – found evidence that the defendants had committed millions of pounds of steel trade fraud by lying and providing false documentation to several banks to secure fraudulent trade finance loans.
The SFOs recently opened trial of multiple defendants charged with bribery to secure property refurbishment contracts worth over £5 million continued.
Meet the team of industry experts behind ComsureFind out more
Keep up to date with the very latest news from ComsureFind out more
View our latest imagery from our news and workFind out more
Think we can help you and your business? Chat to us todayGet In Touch
As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email email@example.com.