LONDON – Thursday, March 19, 2026 – The UK’s Financial Conduct Authority (FCA) has charged prominent financial figure Henrik Schliemann with nine criminal offenses, including fraud by abuse of position, fraud by false representation, and forgery. The charges, first laid on December 3, 2025, stem from allegations that Schliemann, a director at an FCA-regulated merchant bank, systematically siphoned millions from company accounts into his personal holdings.
The Charges Against Henrik Schliemann
Henrik Schliemann, a 61-year-old German national residing in the UK, faces a litany of serious allegations. The FCA claims he exploited his senior role, which included critical functions such as Director, Compliance Oversight, and Money Laundering Reporting Officer (MLRO), to orchestrate a sophisticated scheme of financial deception. The specific charges brought against him fall under sections 1 and 4 of the Fraud Act 2006 for fraud by abuse of position, sections 1 and 2 of the Fraud Act 2006 for fraud by false representation, and section 3 of the Forgery and Counterfeiting Act 1981 for using a false instrument.
At the heart of the FCA’s case are allegations that Schliemann transferred approximately $1.45 million and €3.1 million from the merchant bank’s accounts directly into his personal accounts. Adding to the gravity of the accusations, he is also alleged to have paid himself over £1.3 million in excess dividends. These actions, carried out by an individual tasked with safeguarding the bank’s financial integrity and preventing illicit activities, represent a profound breach of trust and a stark failure of internal controls.
Scale of the Alleged Crime
The total amount of money Schliemann is accused of misappropriating is staggering: approximately $1.45 million, €3.1 million, and an additional £1.3 million in excess dividends. While the exact number of direct victims has not been specified, the primary victim is undoubtedly the merchant bank itself. Given the nature of a director’s role within such an institution, the fraudulent activities would inevitably impact the bank’s shareholders, investors, and potentially its clients, eroding confidence and causing significant financial damage.
The alleged scheme’s duration has not been publicly detailed, but the cumulative sums suggest a sustained period of abuse of power and financial manipulation. This scale of alleged fraud, perpetrated by a high-ranking official, underscores the persistent challenges in detecting and preventing financial crime, even within regulated entities.
Who Is Henrik Schliemann?
Born on June 27, 1964, Henrik Oliver Schliemann held a position of significant authority within the FCA-regulated merchant bank. As a director, he wielded control over company accounts and was directly responsible for financial matters. His roles as Director, Compliance Oversight, and Money Laundering Reporting Officer (MLRO) are particularly salient, as these positions are specifically designed to prevent the very types of financial misconduct he is now accused of committing. It is crucial to distinguish this individual from the renowned German archaeologist Heinrich Schliemann, known for his excavations of Troy, who also faced historical accusations of questionable archaeological practices.
“The charges against Henrik Schliemann highlight a critical vulnerability within financial institutions: the potential for those entrusted with oversight to become perpetrators of fraud. It underscores the FCA’s relentless pursuit of financial crime at all levels.”
Investigation Details
The investigation leading to these charges was conducted by the Financial Conduct Authority. The FCA has intensified its focus on combating financial crime, leveraging advanced technology and data analytics to identify suspicious activities and accelerate investigations. While the specific mechanism by which Schliemann’s alleged fraud was uncovered remains undisclosed, the FCA’s broader strategy involves robust collaboration with law enforcement bodies such as the National Crime Agency and the National Economic Crime Centre. This collaborative approach, coupled with enhanced data sharing and intelligence, is designed to disrupt criminal networks and bring perpetrators to justice.
What Happens Next
Henrik Schliemann appeared before Westminster Magistrates’ Court on December 3, 2025, where he did not enter a plea. His case was subsequently sent to Southwark Crown Court, a jurisdiction known for handling complex financial crime cases. Schliemann is scheduled for his next court appearance at Southwark Crown Court on January 5, 2026. He has been released on conditional bail pending further proceedings. At this stage, there is no information available regarding a conviction, sentence, or any asset freezes, as the legal process is still in its early stages.
Protecting Your Investments: Red Flags to Watch For
While the specific red flags that led to Schliemann’s downfall are not public, his case serves as a potent reminder of critical vulnerabilities within financial institutions. Readers should be vigilant for signs of inadequate internal controls, particularly concerning financial transactions and executive remuneration. A lack of robust checks and balances, insufficient oversight of individuals with significant financial authority, and poor segregation of duties—where one person holds excessive control, especially over compliance functions—are all significant warning signs.
Furthermore, opaque financial reporting, a culture that discourages scrutiny of executive actions, and a failure to conduct thorough risk assessments at all levels of a business can facilitate such fraud. Despite Schliemann’s role as MLRO, the alleged transfers suggest a fundamental breakdown in the bank’s anti-money laundering (AML) defenses. The FCA consistently emphasizes that firms must demonstrate robust financial crime surveillance and risk management arrangements to prevent such devastating breaches of trust and financial integrity.
