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FEB
25

‘Missing Trader’ Fraud

missing-trader-fraudOne of the most common types of VAT fraud is ‘missing trader’ fraud, which occurs when an individual sells goods to a third party, charges VAT and then either disappears or deliberately takes their company into administration before paying over their VAT liabilities.

More cases of this type have been brought by HMRC recently, as part of its crackdown on fraudulent activity.

A recent example is the recent conviction of four men who had been involved in a fraud relating to the importation of mobile phone and computer chips from Europe and the United States. According to HMRC, the fraud worked by selling the phones and chips in the UK along a contrived supply chain before the company exported the goods to Switzerland or Dubai. The traders at the start of the chain meanwhile – which were in some cases set up purely to commit the fraud – invariably failed to pay the VAT they had charged on the original supply.

HMRC investigators shut down the multi-million pound fraud, after stopping attempts to claim VAT repayments worth over £18 million.

Two of the company's directors, its company secretary and one of its employees were recently convicted of cheating the public revenue following a trial at Kingston Crown Court. Three of the defendants were also found guilty of one money laundering offence.

Contact Lewis Nedas’ Criminal Lawyers in London

If you have been charged with fraud and require specialist legal advice, please contact our solicitors Jeffrey Lewis or Siobhain Egan on 020 7387 2032 or complete our online enquiry form here.

This blog post is intended as a news item only - no connection between Lewis Nedas and the parties concerned is intended or implied.

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FEB
10

European Cybercrime Centre: One Year On

cybercrimeLast month the European Cybercrime Centre (EC3) celebrated its first anniversary and with that its successes in tackling online crime.

The main task of EC3 is to disrupt the operations of organised crime networks that commit serious and organised cybercrime, part of which is the on-going problem of payment fraud.

EC3 is currently providing operational and analytical support to 16 investigations regarding payment fraud, while in 2013 it supported investigations that resulted in the dismantling of three different international networks relating to credit card fraud:

  • One operation led to the arrest of 29 suspects who had made a 9 million Euro profit by compromising the payment credentials of 30,000 credit card holders.
  • The second network that was tackled resulted in a total of 59 arrests across several Member States, the dismantling of two illegal workshops for producing devices and software to manipulate Point-of-Sale terminals, and the seizure of illegal electronic equipment, financial data, cloned cards, and cash. The group had apparently affected around 36.000 bank/credit card holders in 16 European countries.
  • The third operation targeted an Asian network responsible for illegal transactions and the purchasing of airline tickets. Two members of the network, travelling on false documents, were arrested at Helsinki airport and around 15,000 compromised credit card numbers were found on seized computers. The network had apparently been using card details stolen from cardholders worldwide, with the losses to European card holders and banks amounting to over 70,000 euros.

A further operation against a group who used fraudulent credit cards to purchase airline tickets was coordinated by the EC3 in 38 airports from 16 European countries. During the operation, more than 200 suspicious transactions were reported by the industry and 43 individuals were arrested (followed by another 74 arrests after the action day; 117 arrests in total).

These were all found to be linked to other criminal activities, such as the distribution of credit card data via the internet, intrusions into financial institutions’ databases, other suspicious transactions, drug trafficking, human smuggling, counterfeit documents including IDs, and other types of fraud. 

The cases are good examples of the way in which frauds involving the internet are increasing. But the technical nature of online and computer fraud means investigations, and prosecutions, are often lengthy and drawn out. It also means that defending charges of this nature requires expert advice from solicitors at the cutting edge of IT and internet law.

Contact Lewis Nedas’ Criminal Lawyers in London

If you have been charged in connection with online fraud and require specialist legal advice, please contact our solicitors Jeffrey Lewis or Siobhain Egan on 020 7387 2032 or complete our online enquiry form here.

This blog post is intended as a news item only - no connection between Lewis Nedas and the parties concerned is intended or implied.

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FEB
06

Attempted Football Transfer Fraud Foiled

footballFraud comes in all shapes and sizes – as shown by the BBC’s report last week that Premier League football club Tottenham Hotspur had been the victim of an apparent fraud attempt in the run up to the transfer deadline.

According to the BBC, the club was approached by a Croatian man who presented a document that purported to be from Dutch football club FC Twente, authorising the sale of Holland under-21 player Luc Castaignos. The document appeared to have been signed by FC Twente’s chairman but when Spurs contacted the Dutch club, it was found to be a forgery.

The Dutch Football Federation and international football association FIFA have been informed.

The offence of fraud takes many forms, although the core of every offence is some form of deception which is knowingly perpetrated with the intent of deriving some unfair or unlawful advantage or material gain.

From simple employee fraud to detailed multi-jurisdictional corporate fraud, Lewis Nedas has the experience and expertise to plan, prepare and strategise a defence, and to represent you in what may be a lengthy and complex fraud trial.

Contact Lewis Nedas’ Criminal Lawyers in London

If you have been charged with fraud and require specialist criminal defence advice, please contact our solicitors Jeffrey Lewis or Siobhain Egan on 020 7387 2032 or complete our online enquiry form here.

This blog post is intended as a news item only - no connection between Lewis Nedas and the parties concerned is intended or implied.

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1423 Hits
JAN
20

LNL Wins Another Award

Lewis Nedas is delighted to announce that we are winners of Finance Monthy's 2014 Global Award for Fraud and Deceit Law Firm of the Year.

From the Finance Monthly website:

"The Finance Monthly Global Awards recognise and celebrate companies and individuals who have delivered the highest quality results within the corporate, financial and legal sectors - winners will have exceeded client expectations and demonstrated measurable achievements over the last 12 months."

If you require any advice or assistance regarding fraud or deceit, please contact us on 0207 387 2032 or complete our online enquiry form here.

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1314 Hits
DEC
16

Two Banking Fraud Prosecution Successes for LNL & Siobhain Egan

Siobhain Egan represented two individuals on separate large scale banking frauds which the CPS discontinued on the basis of detailed representations made to them, concerning lack of evidence and health grounds.

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