Uptick in money laundering cases reaching courts

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Uptick in money laundering cases reaching courts

New figures from KPMG UK’s mid-year Fraud Barometer show that money laundering has been the most common fraud type by value in the last six months.

Nine cases have been heard in UK Crown Courts collectively worth £128.2 million so far this year. With the UK regularly cited as a hub for illicit finance, it is positive that more suspected perpetrators of this crime are appearing to be prosecuted.

The research, which records alleged fraud cases with a value of £100k and above heard in UK Crown Courts, has revealed 122 fraud cases in total were heard in the first six months of the year. This is up from 105 cases during the same period in 2023.

By contrast, fraud value was just over £305 million, a 14% drop compared to the first six months of the previous year, when the total fraud value stood at £354.2 million.

Roy Waligora, Partner and Head of UK Investigations at KPMG, said: “Money laundering continues to be a problem in the UK due to the complexity and sophistication of financial systems that can be exploited for illegal activities. It will be interesting to see if the relatively new requirement for overseas entities to be registered at Companies House will result even more of these cases reaching the courts soon.”

The public sector has been the biggest victim of fraud in terms of value so far in 2024. 26 fraud cases related to the government have been heard, with a combined value of £193.4 million, an increase of 30% compared to the same period in 2023.

The general public also continues to bear the brunt of fraud, with 41 cases totalling £33.2 million being heard in the UK’s courts during the first half of 2024.

Roy Waligora observed: “Greater focus on fraud in the public sector may have contributed to more effective identification and prosecution of fraudulent activities against the government. This proactive approach to tackling fraud may also result in a higher number of similar cases being seen during the second half of the year.

“However, UK courts remain under pressure to address high volumes of fraud at a time when the UK justice system is also under pressure to tackle hard crime. The widely expected publication of guidance on what constitutes ‘reasonable procedures’ by Government will kickstart the timeline for corporates to implement improved fraud management and may make the prosecution of fraud somewhat simpler.”

When examining the most common type of fraud, account takeover fraud was the highest by volume in 2024 so far. 16 cases with a combined value of £7.2 million have reached the UK Crown Courts in the last six months. This was followed by fraud related to counterfeit, pirated, or below stated quality goods (15 cases) and embezzlement (15 cases).

Roy Waligora added: “Methods for perpetrating account takeover fraud are becoming more sophisticated, so it is promising to see that so many of these criminals are being brought to justice. However, with UK Finance reporting 121,650 cases of account takeover fraud in the whole of 2023, it’s clear that only a tiny fraction of these criminals are brought to justice.”

Work on track for November completion at new planetarium

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Work on track for November completion at new planetarium
Work is on track to be completed at the brand new planetarium at Sherwood Observatory by the end of November. The dome is now ready to be transformed into the planetarium which will transport visitors out of this world. Work is now due to start on the internal areas with a specialist planetarium contractor coming in to fit it out with everything it needs – including the screens and the projectors. It will feature 59 seats as well as disabled access with a 10 metre diameter screen that will go inside the dome showing tours of the solar system and beyond. The project team will also get to work on the groundwork outside of the planetarium to get it ready to welcome visitors. Councillor Matthew Relf, Executive Lead Member for Regeneration, Growth and Local Planning at Ashfield District Council, said: “It is wonderful to see construction of the new Planetarium and Science Discovery Centre nearing completion. It has been a monumental effort by all involved. “It will be a fantastic place for schools and youth groups as well as individuals and families to come and see shows about space and about science. We know this will light the fire and passion for future scientists and engineers in the area. “It has been a privilege to be part of the journey of seeing this move from an initial pitched idea while walking around the dark Victoria water tank, to securing the funding and now seeing the space transformed into a modern and exciting facility. I could not be more excited to see my first show in the finished planetarium. “This really will be an incredible asset for the District and broader region and will inspire so many people with the wonders of space and inspire many onto new and exciting careers.” The planetarium construction is part of Sherwood Observatory and Ashfield District Council’s development to create a Science Discovery Centre and planetarium at the Observatory in Sutton. The plans for the site aim to create a unique, world-class facility that will rival those elsewhere in the UK. The observatory, on Coxmoor Road, sits alongside a Victorian subterranean reservoir which will be sympathetically transformed into an education and exhibition space. The original features of the reservoir, such as the intricate brick arches, will be kept, preserving the history of the building. Steve Wallace, Planetarium Project Manager, said: “This is going to be a cutting edge facility and it has been fascinating to work on. We are now moving to the next stage where a specialist planetarium creator will be coming in to transform the dome. “It is a very unique bit of software that offers theatrical shows and give visitors a tour of the solar system where they can go from planet to planet and then out into the wider Milky Way and Universe.”

Nottingham Venues supports Switch Up through new coffee partnership

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Nottingham Venues supports Switch Up through new coffee partnership
A Nottingham charity that empowers young people to break the cycle of crime and gang criminality will soon be receiving additional support thanks to a new partnership between Nottingham Venues and 200 Degrees Coffee. Nottingham Venues, the collection of hospitality destinations located on the University of Nottingham’s campuses, has announced that it will be supporting the charity Switch Up by changing the coffee it uses in its venues to 200 Degrees’ Switch Up Blend. The blend will be served daily across Nottingham Venues’ Spokes Café, Jubilee Hotel and Conferences, and Orchard Hotel. For each 1KG of coffee sold, 200 Degrees will donate £1 to Switch Up. Stephanie Moss-Pearce, Director of Marketing at Nottingham Venues, says: “We employ over 270 people and want all our team members to feel that they have the opportunity to progress. Unfortunately, for thousands of young people across our city, they do not feel they have opportunity and face immense struggles in which they are not supported. “Switch Up provides that support and helps to steer young people onto the right path. The charity is an immense force for good in Nottingham and we are committed to furthering the excellent work of Dr Marcellus Baz and his colleagues, initially through our new coffee partnership.” The coffee partnership is the first step in an ongoing programme of support Nottingham Venues will provide to Switch Up, including hosting a number of its upcoming fundraising events. More details will be announced in the autumn. Tim Moss, Co-Founder of 200 Degrees Coffee, says: “Through our Switch Up coffee blend we have donated thousands of pounds to Switch Up in the past two years and we are proud to support the charity. It is great to see other Nottingham companies getting on board and helping our city’s young people through stocking the Switch Up blend. “The coffee is not only improving lives in Nottingham, but also in Guatemala where it’s sourced. The coffee is produced exclusively by female farmers, and by providing women artisans with skills and income opportunities, our importer Volcafe is able to help transform cycles of poverty to cycles of prosperity – something that Switch Up is doing in Nottingham.” Dr Marcellus Baz, Founder and CEO of Switch Up, says: “Establishing partnerships with leading businesses in Nottingham like 200 Degrees and Nottingham Venues is essential for us to continue our mission. We now rely solely on fundraising and donations to fund our work and I’m hugely grateful for all our supporters. I am looking forward to developing our partnership with Nottingham Venues over the coming months.”

Mather Jamie expands leadership team with new senior associate director

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Mather Jamie expands leadership team with new senior associate director
Loughborough-based land development and property consultancy Mather Jamie has appointed Richard Scriven as the firm’s new Senior Associate Director. Richard Scriven brings over 20 years of experience from his previous role at Fisher German LLP, where he served as a Rural Practice Surveyor. His extensive background spans estate management to rural property consultancy. Scriven holds a BSc (Hons) in Rural Enterprise and Land Management from Harper Adams University and is a Member of the Royal Institution of Chartered Surveyors. In his new role at Mather Jamie, Scriven will oversee a variety of services, including estate management, rural property consultancy, valuations, compulsory purchase and compensation, as well as rural property sales and lettings. Expressing his enthusiasm for joining Mather Jamie, Scriven stated: “The Directors at Mather Jamie are very welcoming and have provided me with a great opportunity to diversify my client base.” Robert Cole, Managing Director at Mather Jamie, said: “Having an expert like Richard join our team is a tremendous asset. His ability to offer his vast experience in all matters rural practice will significantly benefit our clients and enhance our internal expertise. Richard’s unique insights will undoubtedly contribute to the success of our clients and the growth of our services across the property sector.”

Homecare agency in Burton double deal

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Homecare agency in Burton double deal
Rushton Hickman Ltd have let 1 & 5 Borough Road, Burton upon Trent to a homecare agency. The premises sit in a retail parade along Borough Road, which is an established mixed commercial and residential location with nearby occupiers including café’s, restaurants and a LIDL supermarket. The location and position of the premises was a key factor in attracting G&C Healthcare Ltd, who act as a homecare agency to include housekeeping, companionship and personal care. Upon agreement of the deal, Rushton Hickman’s client took the premises back to a bare brick ‘shell’ and installed an opening to link Suites 1 and 5 to suit the requirements of the tenant. Taylor Millington, Agency Surveyor at Rushon Hickman, said: “We are very pleased to have been able to help G&C Healthcare secure a new site in Burton, especially in such a densely populated area which will be of tremendous benefit to them and the local people.” Taylor continued: “Since the letting, G&C healthcare have conducted outstanding internal decor throughout, which gives the premises a modern and professional feel.” Rushton Hickman’s client, Mr Hussain added: “I’m delighted that we’ve agreed a deal with such an excellent tenant, and I would not hesitate in recommending Taylor. Since this letting, we’ve also instructed Rushton Hickman on several other properties and look forward to continuing to work with the friendly and helpful team.”

Indoor football arena takes 20,925 sq ft unit in Northampton

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Indoor football arena takes 20,925 sq ft unit in Northampton
LCP, part of M Core, has signed up a new indoor football arena tenant at Kingsfield Park, an industrial estate in Northampton. Soccer Shack has secured a five-year lease for a 20,925 sq ft unit, which has been transformed into an indoor football arena. Soccer Shack’s arrival adds to a diverse mix of tenants in the local area. Will Helm, Asset Manager at LCP, part of M Core, said: “We are delighted to welcome Soccer Shack to Kingsfield Park. It’s innovative indoor football arena concept aligns well with other repurposed industrial buildings on the estate. It has been fantastic to work with Lee and his team to fulfil their long-time dream.” LCP Solicitor, Elizabeth Alabaster completed this transaction on behalf of LCP.

Workers secure equal pay win against retailer Next

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Workers secure equal pay win against retailer Next

More than 3,500 current and former store staff of Leicester fashion retailer Next have won a six-year legal battle for equal pay.

This is the first equal pay claim of this type against a national retailer to reach the final legal stage and secure a win. The total amount payable by Next as a result of the win is currently estimated to be in excess of £30 million. The Employment Tribunal has ruled that Next failed to show that paying their sales consultants, who are overwhelmingly women, lower hourly pay rates than their warehouse operatives, was not sex discrimination. Sales consultants receive lower basic hourly pay than warehouse operatives (a difference ranging from £0.40 to £3). The claimants’ average salary loss is more than £6,000 each.
The store staff who brought the claim will now be entitled to compensation by way of back pay going back up to six years from when they put in their claims and including the time that has elapsed since they put in their claims. The first claims were submitted in 2018. In addition, their basic hourly pay terms will automatically be equalised in their existing contracts. The win also extends to providing the store staff with paid rest breaks, and equal Sunday, Night and Overtime Premiums in line with comparable terms in the warehouse contracts. Compensation (backpay) for the claimants will now be assessed by the Tribunal. Only those who have brought claims will be entitled to compensation for lost pay and guaranteed to have their contracts automatically equalised, but Leigh Day is continuing to submit claims for Sales Consultants who were not in the original 3,500 and the number of claims are expected to increase significantly over the coming weeks and months following the successful ruling. Helen Scarsbrook, aged 68, from Eastleigh near Southampton, who has worked for Next for more than 20 years and was one of three lead claimants representing all the sales consultants in the claim, said: “We did it! We have achieved equal pay for Next sales consultants. It has been a long six years battling for the equal pay we all felt we rightly deserved but today we can say we won. “Anyone who works in retail knows that it is a physically and emotionally tough job. Customer service, in particular, is very demanding and we do that in addition to lots of other essential tasks that go to make Next a successful business. You become so used to having your work undervalued that you can easily start to doubt it yourself. I am so grateful to the judges for seeing our jobs for what they really are – equal.” Elizabeth George, Leigh Day partner and barrister representing the successful claimants, said: “Helen and her colleagues in this claim have achieved something hugely significant. This is exactly the type of pay discrimination that the equal pay legislation was intended to address. “When you have female dominated jobs being paid less than male dominated jobs and the work is equal, employers cannot pay women less simply by pointing to the market and saying – it is the going rate for the jobs. We knew that already. The Employment Tribunal has confirmed employers must go further to justify paying the different rates. “They rightly found that Next could have afforded to pay a higher rate but chose not to and that the reason for that was purely financial. Helen and thousands of her colleagues had the courage and perseverance to bring these claims and see them through to a successful end. I am so pleased for them. “It is worth reminding people that the financial compensation they will now be entitled to is not a windfall. It is pay that they were always entitled to if Next had complied with its equal pay obligations.”

Enter outstanding schemes for Commercial Development of the Year at the East Midlands Bricks Awards 2024

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Enter outstanding schemes for Commercial Development of the Year at the East Midlands Bricks Awards 2024
Shining a light on the region’s property and construction industry, nominations will close on Thursday 5th September for East Midlands Business Link’s annual Bricks Awards. With 10 categories available to enter, the independent awards and publicity programme recognises development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. We also showcase the work of architects, agencies and those behind large schemes. Amongst this year’s categories is Commercial Development of the Year, which can be entered here. The winner of this category will be the commercial development that has gone above and beyond in fulfilling the criteria of the build, in terms of design and construction. This can include special requirements, features or elements that make the commercial development stand out from the crowd. Last year the award was won by Henry Brothers Construction for SportPark Pavilion 4, Loughborough, with HBD (Power Park, Nottingham) and Bolsterstone Group Plc and Chesterfield Borough Council (One Waterside Place, Chesterfield) runners up. Upon winning Clare Swaine, business development manager, Henry Brothers, said: “I was delighted to collect this award on behalf of Henry Brothers, it was a fantastic team effort to deliver this impressive Passivhaus building which is supportive of Loughborough University’s path to net-zero and is a tremendous asset to the University and wider Leicestershire economy. The event was also a great networking opportunity and it was interesting to hear more about the various developments happening in the region.”

Submit your nominations for Commercial Development of the Year here before entries close on Thursday 5th September.

Winners will be revealed at a glittering awards ceremony on Thursday 3rd October, at the Trent Bridge Cricket Ground (4:30pm – 7:30pm) – an evening also offering an opportunity to establish new connections with property and construction professionals from across the region, and hear from keynote speaker Paul Southby. Other award categories open for entry include: Most Active Estate Agent, Contractor of the Year, Responsible Business of the Year, Residential Development of the Year, Developer of the Year, Deal of the Year, Architects of the Year, Excellence in Design, and Sustainable Development of the Year. All entry forms can be accessed here. The Overall Winner award will also be presented at the event. This award cannot be entered, with the winner selected from those nominated for the event’s other awards. The Overall Winner of the East Midlands Bricks Awards 2024 will also receive a year of marketing/publicity worth £20,000.

Book your tickets now

Tickets can now be booked for the East Midlands Bricks Awards 2024 – click here to secure yours. The special awards evening and networking event will be held on Thursday 3rd October 2024 in the Derek Randall Suite at the Trent Bridge Cricket Ground from 4:30pm – 7:30pm.
Connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from keynote speaker Paul Southby, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, and former High Sheriff of Nottinghamshire. Dress code is standard business attire. Thanks to our sponsors:      

       

To be held at:

Frasers Group invests in retail and distribution business to expand international footprint

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Frasers Group invests in retail and distribution business to expand international footprint

Shirebrook-based Frasers Group has purchased a 14.65% strategic investment in Accent Group Limited, the retail and distribution business in the performance and lifestyle market, as it looks to expand in Australia and New Zealand.

In Full Year 2024, Accent delivered AUD$1.6bn of sales from nearly 900 stores and websites, consisting of multi brand sports fashion stores, vertical owned brands, and global exclusively distributed brands such as Skechers, Hoka, UGG and Vans. 

Frasers noted that the strategic investment will enable it to grow its presence in Australia and New Zealand, a key market in the Group’s ambition to become a leading global sports retailer. To further underpin this partnership and help to drive mutual opportunities, Accent has stated that it intends to offer Frasers the opportunity to propose a director to join the Accent Board.

Michael Murray, CEO of Frasers Group, said: “This investment is an exciting step in the expansion of our international footprint, which is a key growth driver for the Group. Accent has built an incredible ecosystem of sports and lifestyle brands in Australia and New Zealand.

“They have a strong platform across stores, digital, and distribution, offering a lot of potential for Frasers concepts and brands. We are looking forward to working with the Accent management team to unlock mutually beneficial opportunities for both groups.”

Daniel Agostinelli, CEO of Accent Group, said: “We have been in discussions with Frasers Group for some time about a strategic relationship, and have been impressed by its management team and believe that there is a strong cultural alignment between both organisations.

“We see the potential for significant mutual opportunity with Frasers Group, and are excited by the beginning of this new relationship between the organisations.”

Multi-million pound sale secured for Northamptonshire industrial site

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Multi-million pound sale secured for Northamptonshire industrial site
Lambert Smith Hampton’s Capital Markets team has completed the multi-million-pound sale of the 143,818 sq ft former KNP Logistics warehouse in Kettering, Northamptonshire. Strategically situated within a prime logistics hub in the East Midlands, this expansive site features three interconnected warehouses, two office configurations, a large steel portal-framed canopy, and additional undeveloped land. The property also benefits from environmentally friendly initiatives like LED lighting and rainwater harvesting. Significant interest was attracted during Lambert Smith Hampton’s targeted marketing campaign from a range of investors and owner occupiers. Richard Durkin, Director at Lambert Smith Hampton, said: “Following an all-encompassing marketing campaign which resulted in significant interest we were able to select a party in order to take the transaction forward which resulted in a positive outcome for our client.” Lambert Smith Hampton acted on behalf of the Joint Administrators, Rajnesh Mittal and Nathan Jones of FRP Advisory.
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