Serious Fraud Defence Solicitors 

Expert Representation for Complex Fraud Cases 

Our specialist serious fraud defence solicitors provide expert legal support for individuals and businesses facing accusations of serious fraud offences.  

With years of experience and recognition as a Band 1 ranked firm in the Legal 500 and Chambers and Partners, Cartwright King is a trusted choice for complex criminal and fraud cases as well as regulatory investigation, with a strong national presence and excellent reputation. 

What is Serious Fraud? 

Serious fraud is an umbrella term for a number of typically white-collar crimes that are high in value, complex financial crimes, or frauds. Examples include: 

• fraudulent trading; 

• investment fraud; 

• tax fraud; 

• money laundering.  

These crimes are commonly prosecuted alongside other offences such as bribery and corruption. Serious fraud encompasses many different offences, and a conviction can result in a long custodial sentence.  

Furthermore, the Proceeds of Crime act (POCA) can be acted upon during a serious fraud case. The act grants the court power to make confiscations to recover any assets they deem associated with the proceeds of crime.  

If you are under investigation for serious fraud by the Serious Fraud Office (SFO), it’s important to seek the legal guidance of an expert corporate and financial solicitor, specialising in serious fraud defence.  

At Cartwright King, we provide expert advice on serious fraud investigations even before charges are brought against you. If you’ve been notified that you are under investigation for fraud, it’s essential to seek legal advice immediately. Contact our specialist fraud defence team today to discuss your case with one of our experienced solicitors. 

What Classifications of Serious Fraud Work We Can Help With? 

Our corporate, financial and serious crime team has extensive experience in a wide range of serious fraud cases, including but not limited to the following areas: 

• Corporate fraud: including embezzlement, misrepresentation of financial statements, and insider trading. 

• Investment fraud: including ponzi schemes, pyramid schemes, and false investment opportunities 

• Tax fraud: including tax evasion, VAT fraud and HMRC investigations. 

• Bribery and corruption: including public sector bribery, commercial bribery, and facilitation payments. 

• Cartel and price fixing: including illegal price agreements, market sharing, and bid-rigging.  

• Money laundering: including placement, layering, and integration of illicit funds, and use of shell companies.  

• Fraudulent trading: including long firm fraud (using legitimate businesses to defraud creditors) and short firm fraud (fake businesses to secure loans or investments). 

• Cyber fraud: including phishing scams, hacking and data breaches, and identity theft.  

• Insurance fraud: including false claims and exaggerated losses.  

• Extradition cases related to fraud, including international financial crime, and cross-border investigations.  

• Serious organised fraud: including multi-party fraud schemes, and organised crime group activities.  

Who Investigates Fraud in the UK? 

In the UK, serious fraud is often investigated and can be prosecuted by the Serious Fraud Office (SFO). The SFO tackles complex financial crime, serious fraud, bribery and corruption cases to protect the UK’s reputation as a safe place to trade.  

Being investigated by the SFO is a serious and complex matter. Early legal advice from experienced solicitors can be pivotal in determining whether a case proceeds to prosecution. At Cartwright King, our specialist fraud defence team is here to provide the expert representation you need from the outset of any investigation. 

The SFO is part of the UK’s criminal justice system, covering England, Wales, and Northern Ireland, taking on a small number of large economic crime cases. Please note that the SFO does not cover Scotland, the Isle of Man or the Channel Islands. 

Besides the Serious Fraud Office (SFO), various other regulatory bodies can investigate fraud and financial misconduct. These include the Financial Conduct Authority (FCA), which oversees the conduct of financial services firms, and HM Revenue & Customs (HMRC), which investigates tax fraud and evasion. Regulatory investigations often focus on breaches of industry-specific regulations, standards, and compliance requirements, and may not always result in criminal prosecution but can still carry serious penalties like fines, sanctions, or business restrictions. 

How Does the Serious Fraud Office (SFO) Decide Who to Investigate? 

The Serious Fraud Office (SFO)’s Director can investigate any suspected offence if it has reasonable grounds to involve serious or complex fraud, bribery, or corruption. When considering whether to launch an investigation, the Director will evaluate whether any actual or intended harm may be caused to: 

•  the public; 

• the reputation and integrity of the UK as an international financial centre or the economy; 

• the prosperity of the UK. 

The Director will assess whether the complexity and nature of the suspected offences warrants the SFO to get involved.  

What to Expect from a Serious Fraud Investigation By the SFO 

If you are facing allegations or charges of serious fraud, the investigation will likely be carried out by the Serious Fraud Office (SFO), an independent government agency working closely with the police to handle serious and complex cases of fraud, bribery, and corruption. The National Crime Agency (NCA) may also be involved, especially in cases related to organised crime, fraud, money laundering, cyber-crime, bribery, corruption, and human trafficking. SFO investigations are incredibly thorough and can take an average of five years to complete. 

Throughout the process you can expect the following stages: 

1. Gathering intelligence: Firstly, a specialist SFO intelligence team compiles all information relating to the alleged fraud. This SFO intelligence team will assess the information and make a decision based on evidence whether a criminal investigation is warranted.  

2. Multi-disciplinary investigation team: If the SFO launches a criminal investigation, an SFO case controller will assemble a team of specialists to investigate the allegations of fraud.  

3. International assistance: If necessary, the SFO’s international aid team will collaborate with overseas courts and prosecutors.  

4. Gathering documents and information: The SFO obtains relevant documents, and interviews witnesses to build the case.  

5. Asset restraint: If the SFO deems in necessary they can freeze any assets that link to the alleged fraud. 

6. Prosecution decision: Once all above steps are complete, the case controller reviews all information and makes a decision on whether there is enough evidence to proceed with a prosecution.  

Can I Be Subject to Multiple Fraud Investigations? 

At Cartwright King, we understand that depending on the nature and severity of the alleged offence, you may be investigated by multiple agencies simultaneously. While the Serious Fraud Office (SFO) is the most common agency handling serious fraud investigations, other regulatory bodies may also be involved, particularly for professionals in regulated sectors. These may include: 

• Financial Conduct Authority (FCA) 

• National Crime Agency (NCA) 

• HM Revenue & Customs (HMRC) 

It is crucial to have the support of expert Serious Fraud Solicitors when dealing with overlapping investigations from multiple agencies. Each body may focus on a different aspect of the allegations, so having a robust defence to address each area comprehensively is essential.  

Our experienced team at Cartwright King can guide you through every stage of the process, ensuring your case is managed effectively. Contact us today to speak with an expert SFO solicitor and receive tailored advice on your serious fraud case. 

What Is a Section 2 Interview for Fraud? 

A Section 2 interview typically occurs during the “Gathering documents and information” stage of the investigation process. Section 2 of the Criminal Justice Act 1987 gives the SFO the power to require individuals to attend interviews and provide evidence in connection with the ongoing fraud investigation. 

In this stage, the SFO collects relevant documents and conducts interviews with witnesses, suspects, and others who may have information pertinent to the case. A Section 2 interview is often an early step within this process, as the SFO works to build a case by gathering statements and evidence from individuals who may be involved or have knowledge of the alleged fraud. 

This interview is important as it may provide crucial evidence that helps shape the direction of the investigation, and it can significantly impact how the investigation proceeds. 

What Are the Penalties for Being Accused of Serious Fraud? 

In the UK, serious fraud can result in prosecution by the Serious Fraud Office (SFO), or Crown Prosecution Service (CPS). A conviction for serious fraud can result in a variety of penalties depending on the case at hand. Penalties can include imprisonment, fines, and confiscation. Alternatively, some cases of fraud can result in civil litigation which is used for non-criminal matters. Civil litigation can take place when the party who has been defrauded chooses to sue the fraudulent party in order to recover their losses. This civil case remains seperate from any criminal proceedings, however it can still take place based on the same set of facts.  

What are the Penalties for Self-Reporting Serious Fraud 

The penalties for self-reporting serious fraud depend on a case-by-case basis, the level of cooperation provided, and the outcome of negotiations with the prosecuting authorities. Although self-reporting does not guarantee prevention of prosecution, it can result in more favorable outcomes such as a deferred prosecution arrangement or reduced penalties. 

What Is a Deferred Prosecution Agreement (DPA)? 

A Deferred Prosecution Agreement (DPA) is a legal arrangement between a prosecutor and an organisation, supervised by a judge, where the company is charged with a criminal offence but proceedings are automatically suspended. DPAs apply only to organisations and not individuals and may be used for fraud, bribery and economic crime.  

Under a DPA, the company agrees to a number of conditions, which can include payment of a financial penalty, payments of compensation and implementation of corporate compliance programme.  

To enter a DPA, organisations must engage in open cooperation with the Serious Fraud Office (SFO), potentially agreeing to terms like paying fines, compensating victims, or aiding future prosecutions. Non-compliance can lead to prosecution resuming. 

While it is not common for prosecutors to issue DPAs, they do offer a route for companies to manage legal risks and financial penalties. 

What Happens If My Assets Are Frozen During a Serious Fraud Investigation? (POCA) 

During a serious fraud investigation your assets may be frozen under the Proceedings of Crime Act (POCA) by the prosecuting authority. Having your assets frozen means that you are legally prohibited from accessing or disposing of those assets until the investigation is complete.  

Furthermore, if the authorities can link the assets to criminal activity, they can potentially seize the assets as a proceed of crime. 

Find out more about how our POCA solicitors can defend you.  

Whether your assets have been frozen, you’re facing conviction, or confiscation proceedings have started against you, our Proceeds of Crime Act solicitors provide advocacy and frontline defence when you need it most. 

What’s the Difference Between Civil Fraud and Criminal Fraud? 

There are many differences between civil fraud and criminal fraud, but the main difference is that civil fraud is often pursued by a victim seeking private action in the civil courts against a person or business to seek recovery of a sum, assets, payment of compensation, or damaged to the victim(s). A civil fraud trial will take place, and a decision will be made by a Judge.  

Alternatively, criminal fraud is a criminal offence which is often prosecuted by the prosecuting authorities. However, if the prosecuting authorities are not prepared to bring proceedings, in some cases, an individual or entity can bring a private prosecution in the criminal courts against the defendant. The case will take place in the criminal courts (either the Magistrates’ Court or the Crown Court), where the sanctions will likely be imprisonment or a fine after a decision is made by the jury.  

How Can I Fund My Serious Fraud Defence? 

At Cartwright King, we understand that funding your defence can be a concern. We offer expert guidance to help you explore the best options for your situation. 

• Legal Aid: This is available for certain serious fraud cases, covering police station advice and court representation. Contributions may be required based on income. 

• Insurance: Some personal, household, or business insurance policies cover legal fees for criminal investigations. Our team can review your policy to confirm if you’re covered. 

• Private Funding: Private retainers ensure access to specialised legal experts and tailored representation. We offer competitive pricing and flexible payment plans. 

• Free Initial Consultation: We provide an initial consultation to discuss your case and funding options. Contact our Corporate and Financial Crime solicitors today for expert advice. 

Read more about our fees.  

How Can Our Serious Fraud Solicitors Help? 

From start to finish, Cartwright King will defend you and your business, representing you to deal with the authorities and providing specialist legal advice to challenge any demands made of you. We’ll take the lead to protect the best interests of your business, minimise disruption and preserve the reputation of your company. 

Our specialist legal team offers your business a frontline defence when your company comes under scrutiny, ensuring that your rights are upheld and that you can get back to business as quickly as possible. 

Band 1 Ranked Crime & Fraud Team 

Cartwright King’s Crime and Fraud team is a Band 1-ranked department in The Legal 500, and Chambers & Partners. The team are recognised experts in corporate financial crime and regulatory cases. The team is described as tenacious and highly experienced, with standout praise for Laura Smith, who leads the corporate and serious crime team. She is commended for her exceptional knowledge and client-focused approach. With a strong national presence and an excellent reputation, Cartwright King is a trusted choice for handling complex criminal and fraud cases. 

Serious Fraud Advocacy Services 

Our solicitors are well-equipped to defend you in both criminal fraud cases and regulatory investigations. Whether you are facing serious criminal charges brought by the SFO or dealing with regulatory breaches under investigation by bodies like the FCA or HMRC, we will provide comprehensive legal support tailored to your specific needs. Our team has the expertise to manage the complexities of dual investigations and ensure that your legal rights are protected at every stage. 

Contact us today for nationwide legal representation.