Welcome to the latest issue of The Anti-Fraud Network Newsletter:

Letter from the Editor, October 2014

When the perpetrator of a fraud appears to be beyond reach, there are usually other claims that can be pursued.  Prompted by the rise in interest in third party litigation typified by the attempts by the victims of Bernard Madoff’s US$65 billion Ponzi scheme to seek damages from the SEC and Mr Madoff’s banks, this month we are taking a look at third party litigation.  Matthew Blower outlines the type of claims that may be brought under English law against third parties.

We are always interested in articles and book reviews written by AFN members and readers. If you would like to contribute to the AFN newsletter or the website, please contact us at info@antifraudnetwork.com.

Nick Burkill

In This Issue:

Third party claims: What to do when you can’t make a claim against the fraudster

There are many reasons why a claim against the most obvious perpetrator of a fraud is either not possible or is unlikely to result in recovery by the claimant.  This could be because the wrongdoer cannot be traced, is based in a jurisdiction in which a judgment cannot easily be enforced, or is known to have no assets.  Even when the primary wrongdoer may appear to be beyond reach, however, there are usually other claims that can be pursued and careful consideration should therefore be given by potential claimants as to which other individuals and companies may be liable.

Third party targets might include the principal wrongdoer’s employer or the employer’s parent company, or banks, accountants and auditors if their actions can be shown to have contributed to the claimant’s loss.  If others are involved in the fraud, there may also be a basis for bringing a claim for conspiracy.

These types of third party claims have received a lot of coverage recently, particularly with the high profile attempts by the trustee for the liquidation of Madoff Investment Securities LLC to obtain compensation from a number of banks whose accounts were used by Mr Madoff.

There are a number of claims that may be brought under English law against third parties.  They can all be brought as an alternative to, or in addition to, a claim against the principal wrongdoer. Continue reading

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Who We Are

The Anti-Fraud Network is a network of professionals who specialise in the prevention and investigation of fraud and white collar crime, and the pursuit of claims arising out of the theft or other dishonest appropriation of assets, corruption, misuse of confidential information or similar breaches of duty. Recovering the proceeds of fraud and corruption is one of the truly global problems facing organisations today. Proceeds rarely stay in the country where they have been stolen. For organisations to recover stolen or corrupt assets they need access to lawyers and professionals specialising in their recovery across the world.

The Anti-Fraud Network is dedicated to providing access to trusted points of contact across the globe and offering a unified first-class international service to clients, at a time when experience, speed, co-operation and highly responsive service are most important.

The Anti-Fraud Network has been Highly Commended by the Financial Times in the 2008 FT Innovative Lawyers Awards Report

UK Bribery Act Interview

Award

Chambers and Partners LogoNicholas Burkill of Dorsey & Whitney is an expert in bribery and corruption matters, and is widely considered by sources to be an authority on the implications of the new Bribery Act. Sources describe Burkill as “extremely personable, very bright, client-focused and always looking for the best commercial solutions.”

Chambers 2011

Award

The Legal 500 - United KingdomThe Dorsey team is an excellent choice for tax and fraud disputes, and group head Nicholas Burkill is ‘an enormously experienced fraud litigator, with great depth of knowledge; intelligent and hardworking, with an excellent sense of humour. One of the best around’.

Legal 500 2010

Dorsey & Whitney’s practice head Nicholas Burkill is a ‘cool-headed and determined litigator’.

Legal 500 2011