On November 9 2015 the Serious Fraud Office (SFO) announced(1) that an individual had appeared before the Southwark Crown Court charged with two offences of concealing, destroying or otherwise disposing of documents – knowing or suspecting that they are relevant to an SFO investigation – contrary to Section 2(16) of the Criminal Justice Act 1987. The charges arose from an investigation into alleged corruption relating to construction projects in Iraq. The individual was due in court on February 1 2016 and any trial is scheduled to begin on December 12 2016.
On November 13 2015 the SFO announced(2) that it had issued the first criminal proceedings against 10 individuals accused of manipulating the Euro Interbank Offered Rate (Euribor), and that criminal proceedings will be issued against other individuals in due course. This marked the first time that criminal charges have been brought in relation to Euribor. On December 21 2015 the SFO announced that criminal proceedings had been issued against an additional individual. The bankers (six former Deutsche Bank staff, four former Barclays traders and one former Societe Generale trader) are all to be charged with conspiracy to defraud and six were charged at their first appearance at Westminster Magistrates' Court on January 11 2016. The other five did not appear for the hearing.
For further information on this topic please contact Kathleen Harris at Arnold & Porter LLP by telephone (+44 20 7786 6100) or email (firstname.lastname@example.org). The Arnold & Porter website can be accessed at www.arnoldporter.com.
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