The Serious Fraud Office has begun an investigation into Capital & Merchant Finance Limited following a referral from Grant Thornton, the receivers of companies within the Capital & Merchant Group.
Serious Fraud Office to investigate Capital+Merchant
The Serious Fraud Office has begun an investigation into Capital & Merchant Finance Limited following a referral from Grant Thornton, the receivers of companies within the Capital & Merchant Group.
Announcing the investigation, SFO Chief Executive, Adam Feeley, said that the investigation was focused on specific transactions which, on current information, appeared to have benefitted certain related parties through the use of Capital &Merchant funds in contrived structures and with questionable supporting documentation.
Mr Feeley said “The investigation is in its early stages. The immediate focus of our work is to gather, analyse and evaluate all the relevant documentation around these transactions, and form a view as quickly as reasonably possible as to the merits of these matters.”
Mr Feeley said the SFO will also be speaking with people involved in these matters, including those who may have benefitted from them.
“We have received excellent cooperation from Grant Thornton, and from other parties including the second receivers Korda Mentha. We will liaise further with them, and continue to collaborate with other regulatory agencies as appropriate.”
For further information contact
Adam Feeley
Chief Executive
Serious Fraud Office
Phone 021 333 539