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
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Asset tracing
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Bribery and corruption
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Confiscation & restraint
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Civil recovery
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Civil fraud
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Competition/anti-trust law
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Criminal fraud
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Extradition
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Financial services regulation & enforcement
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Foreign Corrupt Practices Act
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Fraudulent trading
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Freezing and search orders
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Injunctions
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Market abuse
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MTIC/carousel frauds
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Money laundering
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Pension fund theft
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Proceeds of Crime Act 2002
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Price fixing
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VAT
Track record and prominent cases
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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
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Halifax plc and others v HMRC [2006] STC 919
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Bond House Systems Limited and others v HMRC [2006] STC 419
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SFO’s ‘Oil-for-Food Programme’ sanctions prosecution
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SFO’s investigation into the Union of Democratic Mineworkers compensation payments
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R v McQuoid and Melbourne - the FSA’s first prosecution for insider dealing
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R v Mustapha and others – the FSA’s first prosecution of an ‘insider dealing ring’.
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GG plc - the SFO’s high profile prosecution in respect of alleged price fixing in the generics drugs industry
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Wickes
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Blue Arrow
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Polly Peck
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Barlow Clowes
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Maxwell
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Levitt
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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 of Outer Temple Chambers is much praised for his representation of the FSA in the high-profile case of R v McQuoid and Melbourne. He successfully obtained a conviction in this matter, the first such criminal prosecution secured by the FSA. A “first-rate brain and a fine advocate,” Richard Lissack QC at the same set has a fast-growing reputation for financial services work. Sources agree that his criminal background puts him in good stead to respond to the increased use by the FSA of its criminal powers. He has recently advised on matters which relate to market abuse and insider dealing, as well as fraud cases” Banking and Financial Services - Chambers & Partners, 2010
“Michael Bowes QC of Outer Temple Chambers focuses on acting for the SFO and the FSA. In court he is "meticulously prepared, calm and effective," while outside of court he is an excellent team player. Stablemate Richard Lissack QC is highly experienced in appellate work. He has been preoccupied with Norris v United States of America of late, a landmark House of Lords case on conspiracy and cartels” Fraud crime – Chambers & Partners, 2010
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
Commercial Fraud
