Two cases involving members of 4 New Square included in The Lawyers’ Top 20 Cases of 2020.
Amjad Rihan v E&Y Global Limited, E&Y Europe LLP, E&Y (EMEIA) Services Limited, EYGS LLP
“Amjad Rihan, a former partner at EY, has brought a claim against various EY entities alleging that he was forced out of EY after he identified major violations committed by an audit client, Kaloti Jewellery International. He says his findings uncovered billions of dollars’ worth of cash transactions; importing large quantities of gold from Moroccan suppliers that had been painted with silver to avoid gold export restrictions; and transactions with high-risk countries such as Sudan and Iran without proper due diligence.”
Public Institution for Social Security of Kuwait v Man Group PLC plus 37 other defendants
Kendrah Potts, instructed by Mishcon de Reya and led by Tom Weisselberg QC of Blackstone Chambers, acts for the first defendant, Fahad Maziad Rajaan Al-Rajaan. The Lawyer describes the case as follows:
“With more than £600bn on offer and a cast list containing an endless list of parties, this large-scale fraud will be one of the largest disputes ever heard in the Commercial Court. It concerns a lawsuit launched by the Public Institution for Social Security (PIFSS) in Kuwait, which is a public authority that runs the state’s social security system and pension scheme. In its High Court claim, the PIFSS alleges it is owed $836.8bn (£639.5bn) as a result of a large-scale fraud by its former director general, Fahad Maziad Rajaan Al-Rajaan. With allegations of bribery and corruption spanning three decades, it is claimed that Al-Rajaan used a series of financial institutions and intermediaries to procure unauthorised secret commissions with the assistance of other defendants.”