Lisa Osofsky
Lisa Osofsky | |
|---|---|
| Born | September 18, 1961 |
| Nationality | American, British |
| Occupation | Lawyer |
| Known for | Director of the UK's Serious Fraud Office (2018–2023) |
Lisa Marie Osofsky (born 18 September 1961) is a lawyer holding both American and British citizenship who led the UK's Serious Fraud Office (SFO) as Director from September 2018 until August 2023. Her successor is Nick Ephgrave.
Early life
Osofsky possesses dual nationality from the United States and the United Kingdom. She completed her undergraduate studies at Amherst College and earned her juris doctor degree from Harvard Law School.
Career
Osofsky’s career commenced as a federal prosecutor in the US, focusing on white-collar crime cases such as fraud involving defense contractors, banking fraud, money laundering, and drug-related conspiracies. She served five years as Deputy General Counsel and Ethics Officer at the FBI and was assigned to the SFO during her tenure as a Special Attorney within the US Department of Justice’s Fraud Division. Additionally, she is qualified to practice law in England and Wales.
Her professional experience includes three years at Goldman Sachs International where she acted as Money Laundering Reporting Officer, followed by seven years at Control Risks in their Corporate Investigation Division providing compliance advice. Beginning in 2003, she held the position of managing director and European head of investigations at Exiger, a global advisory firm specializing in governance, risk, and compliance. There, she managed monitoring activities related to a Deferred Prosecution Agreement (DPA) between HSBC and the US Department of Justice.
In June 2018, Osofsky was named to succeed interim SFO director Mark Thompson, officially assuming the role on 3 September 2018.
Severe Criticism
Throughout her leadership at the SFO, Lisa Osofsky encountered intense scrutiny, particularly concerning her management of cases such as KBR, Serco, and notably the "Unaoil" investigation. Lawmakers criticized these efforts for containing "serious and very, very basic errors," fueling doubts about her continued role. This culminated in then Attorney General Suella Braverman QC MP initiating an independent, "forensic and robust" review of the Serious Fraud Office in February 2022. The inquiry was led by former Director of Public Prosecutions Sir David Calvert-Smith following a Court of Appeal decision that overturned a former Unaoil executive’s conviction due to disclosure failures by the SFO that compromised fair trial rights.
In testimony before the House of Commons Public Accounts Committee in February 2022, Osofsky acknowledged that SFO personnel are "human beings" prone to mistakes. Nevertheless, she refrained from responding to MPs’ inquiries regarding a second overturned conviction, citing an ongoing judicial review.
By July 2022, findings revealed that Osofsky had committed multiple "mistakes and misjudgments" during prosecution of the Unaoil case, which resulted in three convictions being overturned. The report exposed "fundamental failures" within the UK’s anti-fraud body including improper use of personal mobile devices for official matters, undocumented meetings with an intermediary, and a toxic workplace atmosphere characterized by mistrust between senior leaders and investigative teams. It also underscored the damaging perception that a US-based fixer operated with Osofsky's implicit endorsement, exacerbating internal dysfunction.
Labour’s Shadow Attorney General Emily Thornberry condemned senior leadership for weakening investigative personnel through naivety and arrogance that enabled manipulation by the Unaoil fixer. The anti-corruption organization Spotlight on Corruption described this period as a "grim day" for the SFO under Osofsky’s direction. In October 2022, Osofsky admitted that she had been deceived by a former US Drug Enforcement Administration agent acting as a fixer in the Unaoil affair—an admission that intensified concerns over governance within the agency.
Initially regarded as a promising appointment when awarded a five-year contract as Britain’s chief anti-bribery prosecutor, Osofsky’s term became overshadowed by repeated errors. By November 2022, she declared she would not pursue an extension of her tenure and planned to depart in August 2023 upon completion of her contract. This exit date was confirmed by the Attorney General’s office.
A report issued by The Shadow Attorney General’s Office noted that prominent mistakes and controversies under current leadership have adversely affected morale within the SFO and heightened vulnerabilities related to experienced staff departing for roles in corporate law firms.
Personal life
Osofsky is wed to attorney Marc Wassermann.