Christopher Foulkes

Business Crime & Financial Services

The great majority of Chris’s practice throughout his career has involved fraud and business crime. He advises on all aspects of matters involving international corruption and money laundering, market manipulation, large-scale investment, tax, and insurance fraud. Chris is well-versed in issues arising in concurrent civil and criminal proceedings.

His work frequently involves advising in respect of the following issues:

• jurisdiction in relation to historic fraud and bribery allegations
• mutual legal assistance requests and the use of foreign evidence
• SOCPA agreements from the defence and prosecution perspective
• judicial review in relation to decisions to prosecute, and use of powers to obtain evidence
• confiscation, asset forfeiture, civil recovery and related enforcement, including representation of third parties
• data protection

He is regularly instructed by major defence firms and all relevant prosecuting authorities.

His civil indirect tax practice often involves allegations of fraud; he therefore has invaluable experience of business crime in the civil commercial context.

Current instructions include:

Advising a plc in an investigation with a view to a potential private prosecution relating to fraudulent misrepresentations.

Advising the director of a private company in relation to the private prosecution of another director for fraud offences relating to the company.

Advising a company in relation to a mutual legal assistance request from a foreign state.

Other Notable Cases include:

R v EC and others

Represented the ex-Finance Director of a UK listed company in an FCA prosecution alleging false accounting and the making of false or misleading statements to auditors and the market.

X Ltd / Y Inc: an application

Advised an international auction house in a successful contested application to permit it to sell high value artwork which was the subject of a criminal restraint order against one of its clients.

R v LJR and others

Chris, along with Andrew Radcliffe KC, represented one of five Defendants in a major money laundering operation in the first of a scheduled series of trials where it is alleged that, in all, a large number of couriers made or attempted to make a total of 85 flights from LHR to Dubai carrying suitcases containing over £100m in cash.  Following a 7-week trial, the client was the only Defendant to be found not guilty.

R v MW and others

Chris successfully represented an individual charged with money laundering relating to the activities of her son, who had admitted being the principal in serious drug trafficking offences.

F Ltd

Chris advised a private company in relation to potential breaches of its obligations pursuant to FSMA in respect of collective investment schemes.

R v RT

Chris, with Martin Hicks KC, advised a former director of Quindell PLC (now Watchstone PLC) in relation to an SFO investigation into the business and accounting practices at the company.

The investigation arose following the acquisition of the company’s Professional Services Division by the personal injury law firm, Slater & Gordon for a reported £637 million. The purchase was later described by the Law Society Gazette as one of the most “contentious acquisition deals in legal history … the most expensive ever by a business in the legal sector of England and Wales”. It led to civil proceedings against Watchstone by Slater & Gordon (ultimately settled) and an FRC fine and reprimand for KPMG as auditor of Quindell during the relevant period.

Chris and Martin advised the former director throughout an extensive and protracted investigation by the SFO, which finally announced that no criminal charges would be brought.

R v Rolls Royce plc

Advised and represented the SFO in its investigation into allegations of corruption which resulted in Deferred Prosecution Agreement relating to alleged conduct across multiple jurisdictions. Leading junior counsel responsible for investigation into Civil Aviation division.

R v Innospec plc

Advised and represented the SFO in large investigation and prosecution relating to the corrupt practices in Indonesia of a major UK chemical company manufacturing fuel additives. Joint US/UK investigation.

R v A, G and others

Leading prosecution counsel in multi-million pound conspiracy to defraud and money laundering involving cyber-attacks on banks in the UK and other EU states.

R v S

Defended MEP in confiscation proceedings following conviction for European Parliamentary Expenses Fraud.

R v H and others

Leading prosecution counsel in corruption allegations relating to the engineering arm of a Formula One company.

A & B

Advised NEDs of an international financial services company in respect of potential appeal against HMRC’s decision to rescind their “fit and proper” status within the Money Laundering Regulations.

C plc

Advised corporate in technology sector in respect of AML and compliance issues in relation to international trade.

A company

Advised an overseas company as an interested party in UK libel proceedings relating to corruption and money laundering allegations.