SFO

A former UBS and Citigroup trader, one of three men arrested in December as part of a Serious Fraud Office (SFO) and City of London Police investigation into the manipulation of LIBOR, has been charged.

The Serious Fraud Office (SFO) is set to begin the first criminal prosecution in the LIBOR-rigging scandal and could charge a former UBS and Citigroup trader this week, The Times reports.

Harlequin Property, the troubled UK-based overseas property sales agent which is at the centre of a Serious Fraud Office investigation, is embroiled in 15 legal battles in St. Vincent and the Grenadines, IFAonline can reveal.

A group of 16 MPs has pledged to support investors in failed scheme Arck in their fight to get redress from Yorkshire Bank.

Positive Solutions raised concerns with three clients about the advice to invest in Harlequin Property in 2010 after deeming the Caribbean property scheme to be too risky for a pension.

Advisers and agents selling clients investments in Caribbean villas run by Harlequin Property received commissions of up to 15%, according to a lawyer close to the situation.

The directors of the troubled £400m Caribbean property investment scheme run by Harlequin Property have been issued with a High Court order freezing their personal assets up to £1.1m.

Yorkshire Bank has "serious questions to answer" over failed property scheme Arck LLP - now under investigation by the Serious Fraud Office (SFO) - which left investors millions of pounds out of pocket, an MP has said.

The administrator of the sales arm of the troubled Harlequin Property group has racked up fees of more than £28,000 in its first ten days in the role.

The Public Interest Unit of the Insolvency Service is looking into the administration of the sales arm of Harlequin Property, IFAonline understands.