Outer Temple Chambers has strength in extradition, financial crime and regulatory matters,

Commercial Fraud

Overview

Outer Temple Chambers has a long established reputation in commercial fraud.  

Members of chambers have experience in all aspects of civil fraud, including breach of fiduciary duty, breach of trust, direct & indirect tax fraud, asset recovery, freezing orders and other injunctive remedies.    Members of chambers act for both the taxpayer and the Revenue in the Tax Chamber of the first-tier tribunal and have appeared in some of the leading cases on MTIC fraud including Bond House Systems Limited and others v HMRC [2006] STC 419 before the European Court of Justice.  Uniquely, we also have an acknowledged expertise in criminal fraud with members having appeared in some of the biggest and most high profile criminal fraud cases in the UK. 

We  act for corporations and individuals as well as financial institutions caught up in fraudulent transactions.  We also for the government and regulatory agencies (including the SFO, FSA and OFT). 

We work extensively in foreign jurisdictions and have considerable experience of the cross-jurisdictional issues which arise in fraud cases, including tracing and freezing assets, compliance with anti-bribery legislation and the obligations under Part 7 POCA.   With offices in New York and Abu Dhabi, we also have invaluable experience of matters involving regulators and prosecutors in the US and the Middle East.

Chambers’ strength in commercial fraud complements its work in financial services regulation.  Members of chambers have acted in nearly all of the cases brought before the criminal courts for market abuse and insider dealing and frequently act for both the FSA and regulated firms and individuals before the RDC. 

Areas of expertise

  • Asset tracing
  • Bribery and corruption
  • Confiscation & restraint
  • Civil recovery
  • Civil fraud
  • Competition/anti-trust law
  • Criminal fraud
  • Extradition
  • Financial services regulation & enforcement
  • Foreign Corrupt Practices Act
  • Fraudulent trading
  • Freezing and search orders
  • Injunctions
  • Market abuse
  • MTIC/carousel frauds
  • Money laundering
  • Pension fund theft
  • Proceeds of Crime Act 2002
  • Price fixing
  • VAT

For further information, contact:

Stephen Somerville 020 7353 6381

Track record and prominent cases

  • HMRC v Mobilix, Blue Sphere Global and Calltel [2010] EWCA (Civ 517) – circumtances in which a taxpayer can be deprived of the right to  deduct input tax
  • Halifax plc and others v HMRC [2006] STC 919
  • Bond House Systems Limited and others v HMRC [2006] STC 419
  • SFO’s ‘Oil-for-Food Programme’ sanctions prosecution
  • SFO’s investigation into the Union of Democratic Mineworkers compensation payments
  • R v McQuoid and Melbourne  - the FSA’s first prosecution for insider dealing
  • R v Mustapha and others – the FSA’s first prosecution of an ‘insider dealing ring’.
  • GG plc - the SFO’s high profile prosecution in respect of alleged price fixing in the generics drugs industry
  • Wickes
  • Blue Arrow
  • Polly Peck
  • Barlow Clowes
  • Maxwell
  • Levitt
  • Guinness

Our clients

We  act for corporations and individuals as well as financial institutions caught up in fraudulent transactions.  We also for governmental bodies and regulatory agencies (including the SFO, HMRC, FSA and OFT). 

What the directories say

Michael Bowes QC is deputy head of Outer Temple Chambers and a fraud practitioner of some repute. He recently acted for the FSA with regard to the insider dealing prosecution at Southwark Crown Court of McFall, Rimmington & King. Sources speak of him as "a highly competent lawyer with more than enough intellectual capacity to handle complex cases." Richard Lissack QC also practises out of Outer Temple Chambers. He, too, acted on the FSA insider dealing prosecution of R v Rimmington. Sources like him as he "has an easy-going team spirit" and is really gifted: "He offers a value-added service." This set also houses "good criminal fraud" practitioner Brendan Finucane QC, who acted in the mortgage fraud. Chambers and Partners 2012

Outer Temple Chambers’ Philip Mott QC has ‘clear vision and good strategic direction’, and Nicholas Medcroft provides ‘incisive legal analysis and high-quality advice’. Fraud: Crime, Legal 500 2011

Outer Temple Chambers is particularly recommended for its regulatory expertise. Michael Bowes QC is highly recommended for financial services and regulatory issues and was recently instructed by the FSA on its first criminal prosecution for insider dealing, R v McQuoid and Melbourne. Richard Lissack QC is valued for his ‘very practical advice and strong regulatory nous’. Among the juniors, the ‘very user-friendly’ Nicholas Medcroft has ‘a thorough appreciation of both criminal law and procedure and also how banks work’. Oliver Assersohn has an ‘invaluable knowledge of the FSA disciplinary process’. Legal 500 2011

Memberships and involvement

Many of our barristers are members of  COMBAR, CBA, POCLA (Proceeds of Crime Lawyers Association) and FSLA (the Financial Services Lawyers Association).

Tags: Commercial Fraud

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