Furlough Fraud - what about the other £2bn?
The most immediate concern is likely to be with the taxman and the reputational damage that may follow. However, the knottiest problem may well be how to manage potentially criminal funds which have entered, and possibly exited, a company's accounts amounting to a criminal offence."
The coronavirus crisis continues to put a significant strain on public resources and there is likely to be little, and reducing, sympathy for companies that have incorrectly claimed funds and have not put in place steps to undo that error."
For further information on the issues raised in this news article, please contact a member of our criminal litigation team.
Nicola Finnerty is a Partner in the Criminal Litigation department. She has experience of fraud, corruption (including the Bribery Act) and cartel matters, financial compliance, money laundering, asset seizure and confiscation cases, through to sexual offence cases, drugs, murder and offensive weapon crimes.
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