UK Financial Regulator Charges Former Bank Director with Fraud

On December 3, the UK Financial Conduct Authority (FCA) announced it has filed nine criminal charges against Henrik Schliemann, a German national residing in the UK. The charges include fraud and forgery.

According to the regulator, the 64-year-old man served as an authorized Director, Compliance Oversight and Money Laundering Reporting Officer at an FCA-regulated commercial bank. He was responsible for financial matters and managed company accounts.

The FCA alleges Schliemann transferred approximately $1.45 million and €3.1 million from these company accounts to his personal accounts, while also paying himself excess dividends exceeding £1.3 million.

The regulator brought multiple charges against Schliemann under the Fraud Act 2006 and the Forgery and Counterfeiting Act 1981, including fraud by abuse of position, fraud by false representation, and using false instrument.

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The Financial Conduct Authority (FCA) is the UK's financial regulator, responsible for overseeing financial markets, ensuring consumer protection, and maintaining fair competition within the industry.