Financial Crime

Frauds can take a variety of forms including phishing scams, boiler room frauds, mortgage fraud, insurance fraud, and carousel fraud. A fraud offence can be relatively simple and isolated, or complex and involve abuses of trust, e.g. a bank manager exploiting his position.

The misconduct in question must be dishonest by the standards of reasonable and honest people, and there must be an intention to make a gain, or to cause loss to another or expose another to a risk of loss. Specific fraud offences have further additional elements.

We have extensive experience of defending fraud and financial offences and are frequently instructed in high value money laundering cases across multiple jurisdictions.

We act regularly for companies and individuals subject to investigation and prosecution by agencies including the National Crime Agency, Serious Fraud Office, City of London Police, Crown Prosecution Service (CPS), Financial Conduct Authority (FCA), and HM Revenue and Customs.

Allegations of fraudulent and illegal activities can cause serious and irreparable reputational harm to individuals and businesses. Though criminal investigations and prosecutions can be lengthy, we provide effective expert advice and assistance at every stage.

Pre-charge advice

Often clients suspected of committing financial crimes approach us immediately after a law enforcement authority has conducted a ‘dawn raid’ and executed a search warrant at a home address or business premises. We are often asked to provide expert assistance at short notice and advise during preliminary investigative stages, including attend with clients being interviewed ‘under caution’.

If appropriate, we will make written representations to the investigating authority before any charging decision has been made and take proactive steps to have items of property returned.

Seeking independent legal advice as soon as possible can mitigate the potential impact on you and your business and safeguard your legal interests.

Criminal Prosecutions

Invariably complex financial crimes are tried in the Crown Court, and we have a dedicated Crown Court department that provides bespoke assistance from the first to last hearing as, without doubt, navigating court proceedings is a stressful and daunting process.

Fraud trials can last weeks if not months as they can involve many defendants, and the prosecution must prove its case so the jury can be sure about each of the accused on each of the allegations. In addition, some fraud offences can be inherently complicated: e.g., boiler room frauds.

What is a ‘boiler room’ fraud?

A boiler room fraud is a type of criminal scam typically involving the selling of worthless or overpriced investments often to vulnerable or unsophisticated investors. It usually involves intense high-pressure sales tactics, i.e., in a ‘boiler room’ environment.

Boiler room frauds usually involve fraud by false representation and the FCA is the UK law enforcement authority that will investigate and prosecute this type of offending.

The elements of other types of fraud must be present (i.e., dishonest and gain/loss) but in addition, the prosecution must show a false or misleading representation about the investment and that an investor has relied on the false representation when deciding to invest.

Where prosecutors need to explain to a jury specific sales tactics and techniques - starting with alleged fraudsters ‘cold calling’ potential investors and duping them into investing in specific products - a mass of telephone and digital data might need to be relied upon. We are expert at analysing voluminous pages of prosecution material and making targeted disclosure requests to undermine the case against the accused.

The sentencing guidelines for fraud and money laundering offences are severe, and draconian confiscation proceedings inevitably follow any conviction.

Any individual or business accused of a white collar and financial crime should not hesitate in contacting us.