Global Investigations Review - The law and practice of international investigations

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Friday, 07 August 2020

Singapore charges company director with fraud linked to Wirecard

Singaporean prosecutors have charged R Shanmugaratnam with fraud for falsely claiming his business administration company, Citadelle Corporate Services, held finances for collapsed German payments firm Wirecard, according to Reuters

Shanmugaratnam allegedly fabricated letters from Citadelle to Wirecard that fraudulently showed it had hundreds of millions of euros stored in escrow accounts.

Philippine authorities are also reportedly investigating Citadelle over its dealings with Wirecard. 

Wirecard collapsed in June after it admitted €1.9 billion in its reported revenue didn’t exist. German authorities have arrested several individuals over the matter.

Dechert denies human rights violation claims in UK lawsuit

Dechert has vehemently denied a Jordanian lawyer’s claim that the firm and three lawyers violated his human rights during a fraud investigation in the UAE.

In a filing at the High Court of England and Wales on 31 July, Dechert said that Daram Salah Al Din Awni Al Sadeq willingly cooperated with the firm’s investigation and freely confessed that he had been complicit in parts of the alleged fraud.

Al Sadeq is suing Dechert, the firm’s head of investigations, Neil Gerrard, and two other lawyers in the UK, claiming they were complicit in violating his human rights. He alleges in the lawsuit that he was unlawfully imprisoned in the UAE in a manner amounting to torture to solicit a false confession.

“The allegations against the Firm and its personnel are completely without foundation and we shall be vigorously defending ourselves against them,” a Dechert spokesperson said.

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