Featured Scotland

Lawyer famed for work in Scott Young affair fights to avoid jail over castle deal

A property development firm is trying to have the lawyer famed for representing creditors to late tycoon Scott Young imprisoned in a bitter legal dispute over the whereabouts of millions of pounds in misappropriated funds. Stephen Jones is said to have lied to clients, the courts and the National Crime Agency… Read More

How Trump’s Political Appointees Overruled Tougher Settlements With Big Banks

By Jesse Eisinger, ProPublica, and Kevin Wack, American Banker Since Donald Trump’s election, federal white-collar enforcement has taken a big hit. Fines and settlements against corporations have plummeted. Prosecutions of individuals are falling to record lows. But just how these fines and settlements came to be slashed is… Read More

In bold anti-graft push, Mexico sets sights on ex-president’s confidant

Mexican President Andres Manuel Lopez Obrador made his boldest move yet to root out entrenched corruption by going after one of his predecessor’s closest aides, a former chief of state oil firm Pemex, for alleged bribery, tax fraud and other crimes. The target, Emilio Lozoya, headed Pemex from 2012 to… Read More
11th December 2018
The United Kingdom has announced new measures it says will boost transparency and tackle the misuse of Scottish limited partnerships (SLPs), following a consultation on reforming limited partnership law and a number of high-profile money laundering scandals. Under the proposals, individuals registering limited partnerships (LPs) must demonstrate that they are… Read More
16th August 2018
Royal Bank of Scotland (RBS.L) will pay $4.9 billion (£3.86 billion) to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, the U.S. Justice Department said on Tuesday. The Justice Department said the penalty is the largest-ever imposed on a bank for misconduct leading… Read More
17th November 2017
By Emma Hughs, FT Adviser A murderer serving life for killing a financial adviser has been ordered to pay the Crown £1. Colin Coates, 47, who was jailed for killing 27 year old Lynda Spence in April 2011, is believed to have made £119,967 from crime. But Coates maintains… Read More
10th November 2017
The Scottish government has outlined its action plan to protect public organisations from cyber attacks. The strategy was fast-tracked after a global cyber attack in May in which 11 Scottish health boards were targeted. Public bodies have been told to improve their… Read More
6th September 2017
Parliamentarians at the Council of Europe have expressed “great concern” at revelations in the Guardian and other media that detail how former members of the body were paid by Azerbaijan. The revelations that former members of the Council of Europe’s parliamentary assembly (Pace) benefited from the oil-rich country’s international lobbying… Read More
5th September 2017
UK companies using an obscure Scottish business structure are at the centre of a multibillion-dollar operation to funnel cash out of Azerbaijan, an investigation by the Guardian has found. Scottish limited partnerships (SLPs), structures originally established in the early 1900s for farm holdings, acted as shell companies to channel $2.9bn… Read More
8th August 2017
The Royal Bank of Scotland (RBS) disclosed Friday that it is under investigation by the UK’s Financial Conduct Authority for suspicions of money laundering “in relation to certain customers.” The announcement follows The Guardian’s analysis earlier this year of banking records obtained by OCCRP and Novaya Gazeta, which found that RBS handled US$ 113.1… Read More
30th May 2017
Anti-corruption campaigners have called for the next UK Government to clamp down on Scottish firms they describe as Britain’s “home-grown secrecy vehicle”. In its 2017 manifesto, Transparency International sets out a series of reforms for Scottish limited partnerships or SLPs exposed by The Herald at the heart of scores of… Read More
14th April 2017
Theresa May has been accused of going soft on tackling financial crime after launching a new “weakly regulated” funding scheme before a Whitehall probe into international tax evasion and money laundering has concluded. Roger Mullin, the SNP MP and the party’s Treasury spokesman, condemned the move insisting: “The criminal fraternity will… Read More
29th March 2017
For years Scotland has been marketed around the world as a tax haven, as jurisdiction with all the corporate secrecy of a Belize or a Panama but also the respectability of a Sweden or a Germany. Read More