Saturday, March 9, 2013

Fraud Busting Agency in Fraud net

As per Reuters - The former head of Britain's Serious Fraud Office (SFO) was on Thursday accused of running a "sloppy and slovenly" operation and agreeing exotic senior staff packages and payoffs with scant regard to the public purse or proper procedure.

In a public grilling into exit payments to three top executives, parliamentarians told Richard Alderman, who left the agency last April, it was unacceptable that his former CEO Phillippa Williamson ran up 27,600 pounds ($41,600) in one year in UK travel and hotel costs.

The Public Accounts Committee (PAC) parliamentary spending watchdog also voiced outrage at Alderman's reliance on informal notes and conversations before paying three top executives a total of around 1 million pounds in payoffs -- and questioned whether Williamson was an old friend.

The hearing heaped further embarrassment on the agency, which has struggled to restore faith in its fraud-fighting capabilities since a botched probe into property moguls Vincent and Robert Tchenguiz left it fighting a 300 million pound ($452 million) damages claim.
Read Detailed News 

UK fraud-busting agency head ran "sloppy" operation-MPs

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