World U.K. Trader Probe Halted After Judge Questions FCA Priorities
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(Bloomberg) -- The U.K.’s investigation into a trader involved in controversial Cum-Ex transactions was stopped in its tracks after a London judge questioned the regulator’s apparent lack of commitment to probing the European tax scandal.
The Financial Conduct Authority was ordered to pause its probe until 2022, after a separate court decides on a case brought by Danish tax authorities against former hedge-fund manager Sanjay Shah.
The investigations into the Cum-Ex scandal were not “one of the FCA’s high priorities,” Judge Jonathan Swift said Wednesday.
A Conversation with a Federal Judge About the ‘Serious, Serious Problems with Our Legal System’
Judge Jed Rakoff has authored a new book, provocatively titled, "Why the Innocent Plead Guilty and the Guilty Go Free: And Other Paradoxes of Our Broken Legal System." Joel Cohen interviewed the author to talk about some of the more troubling subjects Judge Rakoff has tackled in the book–and in his courtroom. The post A Conversation with a Federal Judge About the ‘Serious, Serious Problems with Our Legal System’ first appeared on Law & Crime.He has, now, authored a new book, provocatively titled, Why the Innocent Plead Guilty and the Guilty Go Free: And Other Paradoxes of Our Broken Legal System.
The case into the accused man, who can’t be identified, has been open since at least 2015 and was among the U.K. agency’s most advanced. The FCA is looking at 14 firms and six individuals who operated dividend-stripping schemes in Denmark, Germany, France and Italy.
Denmark’s tax agency is suing Shah and his associates in London, in a bid to recoup 1.5 billion pounds it says it was defrauded out of. The mammoth trial -- expected to be the longest in High Court history, is being split into three parts, with the so-called “Validity trial” set to start in October.
The FCA said in a statement it will seek permission to appeal.
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Prosecutors focus Trump Organization probe on company's financial officer: report .
Prosecutors working for the Manhattan district attorney on an investigation into the Trump Organization are increasingly focusing on the company's chief financial officer, The New York Times reported Monday. Officials are concentrating more on Allen Weisselberg, who has managed the firm 's finances for more than 20 years, in their probe into whether the former president and his company falsely manipulated property values for loans and tax and insurance advantages, among other matters.