Please Be Informed...

STA Travel accused of false or misleading statements

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STA Travel, which readers of a certain age will remember as a student-only bucket shop in the 1970s, has mutated but still focuses on the younger (that is those who have yet to reach a certain age) traveller. But, the authorities in Australia say that STA Travel began, in 2011, to market a product that has earned the company some AUD12m but mislead consumers who have paid more than STA Travel said they would. Proceedings have been issued in civil court.

CoNet Section:

Advertising

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The accountant and the Ponzi scheme

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Case Summary:

An accountant of retirement age pleaded guilty to running a Ponzi scheme that defrauded victims of a total of more than USD27.5 million.

Type of conduct:

Ponzi / Pyramid fraud

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Bloodhound Land Speed Record car rises under Grafton rescue

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It might look like the tail fin from Concord but it's Bloodhound SSC, rescued this week by British businessman Ian Warhurst after entering liquidation last October.

CoNet Section:

Motorsport

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EU decides UK's exit date

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The EU is quietly laughing up its sleeve at yet another example of how it exercises control over the UK's withdrawal process. While EU leaders are selling it as a concession, the extension that the 27 countries that will remain in the Union have told the UK it can have comes with strings that impose conditions on the UK Parliament.

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Law Society of England and Wales considers money laundering compliance checks "an assault."

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The Law Society of England and Wales has, since the early 1990s, fought a rear-guard action against the engagement of solicitors in counter-money laundering efforts. The Regulator, which was first a division of the Law Society and then spun off to become a ludicrously politically charged enforcer of any passing social fad had, at that time the correct view that solicitors were within the scope of the original Money Laundering Regulations. At last, the regulator, now known as the Solicitors (sic) Regulatory Authority (it's so trendy it doesn't use an apostrophe where its name demands one) has decided that money laundering is something it needs to pay attention to. The Law Society is on a war footing, declaring the SRA's action "an assault."

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Woman convicted of "interfering with flight crew."

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It's one of those interesting differences between English and American. The American charge of "interfering with flight crew" does not involve, as it would in English, a sexual act. But given that there was an assault, the American charge is clear.

CoNet Section:

Aviation

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UK Financial Conduct Authority court case sets the scene for new African scam

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The advance fee, or 419, scam industry is always looking for new opportunities and the fraudsters like to use genuine background as the reason they make contact with potential victims. A case in the High Court of England and Wales has created the conditions that are ideal for fraudsters as a hook.

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Retailer fined after lying to investors

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In 2015, a news report said that the flooring products of a listed company, "Lumber Liquidators," contained dangerously high levels of Formaldehyde. The company issued a denial and filed it with the SEC. That denial was untrue.

CoNet Section:

Corporate Management

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Malaysia's National Power company denies sacking of CEO

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A report in the New Straits Times last week said that the company's CEO, Datuk Seri Azman Mohd, had been "asked to resign" and a deadline given of Friday las week. Amongst those surprised by the "news" is Tenaga National Berhad, TNB, the national power company.

CoNet Section:

Corporate Management

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Bercow, Brexit and balls in the air

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Yesterday, the Speaker of the House of Commons made a ruling. In accordance with Parliamentary Rules dating back to the 17th Century, he said that a motion could not be put before the house over and over again in the hope that the Members would tire of saying no. There's uproar in some quarters, some saying he's sabotaging Brexit. He's doing nothing of the sort. He's just making sure that the Government doesn't drop the ball.

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Live streaming: should such tech be restricted or banned?

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When Brenton Tarrant, a 28-year-old Australian man, turned on the camera on his mobile phone and filmed himself and his actions during a murderous attack on two mosques in Christchurch, New Zealand, killing 50 people, it brought home to the world that the idea of web-casting, so beloved of American TV cop-show writers, can be even more horrifying when fiction turns to fact. Yet, the dangers of live streaming have long been known and criminals in a wide range of activities have been making use of it for a long time. Is this a "freedom" too far?

CoNet Section:

Security and Society

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Australian GP 2019: how could something so interesting be so dull?

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For fans of the personalities, regulations and technology of F1, the first race of the 2019 season was fascinating.

For fans of racing, it was extraordinarily dull.

CoNet Section:

Motorsport

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Jail for financial adviser who misappropriated clients' funds

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Case Summary:

A financial adviser recommended a form of investment to clients but instead of using the money in accordance with the agreed plan he used the money for his own purposes and created fictitious records to show purported performance of their investments. He has been sentenced to ten years' jail. Asset freezing orders against the defendant have preserved sufficient to cover all or most of the losses.

Type of conduct:

Fiduciary fraud

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Overwhelming rejection of a second "in or out" referendum

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Parliament has recognised the will of the people and decided that, even if there is a referendum on the terms of the Withdrawal Agreement, such a referendum would not include a "Remain" option. It has also rejected the Prime Minister's motion to delay withdrawal.

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F1: Shock in Melbourne - Charlie Whiting dies suddenly

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I can't claim to have known Charlie Whiting personally but I can say that, like one or two other people over my decades of enjoying Formula One as a spectator, he has been an important figure in my life. And then, suddenly, he's gone, as if someone turned out the lights. This time, they say "gone" not "go."

CoNet Section:

Motorsport

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