Two arrests so far and more than $5 million in assets frozen. Details at The Times.

-- MDT

Labels: arrests, boiler room, UK

A UK based investigative firm is trouble for failing to perform contracted services. According to this press release, Advance AIT Limited and is under investigation by the Companies Investigation Branch of the Insolvency Service. According to the CIB investigation:

"...Advance AIT relied on misleading promotional material and a false reference from a customer stating that it had recovered the sum of £9,000 for that customer. Advance AIT continued to trade despite being insolvent, to the detriment of customers and other creditors and owed £323,146 to its creditors. During the winding up proceedings the court heard that Advance AIT Limited conducted business in way that was inherently objectionable and detrimental to members of the public."

Egads! More here.

-- MDT

Labels: Advanced AIT Limited, Insolvency Service, private investigator, UK

We've written a few times in this space about increasing calls for business regulation in the United Kingdom. New regulations approved in the last week have strengthened penalties and oversight relating to money laundering in the UK. These regs come as a response to an EU-wide money laundering directive.

While not everyone is buying the utility of new regulations, the new laws should come as a boon to the corporate investigative set, who will benefit from any new due diligence requirements. The London Stock Exchange discusses this very issue with investigator Kenn Griffiths of Spring Garden Consultancy.

-- MDT

Labels: money laundering, UK

Well...not exactly.

-- MDT

Labels: insider trading, UK