- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-03-13T15:47:00
The U.K. Serious Fraud Office (SFO) announced two raids and three arrests coinciding with the launch of an investigation into collapsed property developer Carlauren Group.
Carlauren Group entered administration in November 2019, exposing approximately 600 people and company investors. The SFO said in a press release Tuesday it is investigating alleged fraud totaling 76 million pounds (U.S. $97 million).
“This company’s abrupt collapse has created turmoil and enormous anxiety for many, with elderly people forced to vacate their homes and investors left with nothing,” said SFO Director Nick Ephgrave in the release. “[These] arrests are a major development in our investigation and a step towards getting the answers so many people need.”
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The U.K.’s Serious Fraud Office said in a five-year strategic plan it’s “struggled to keep pace with demand” as ballooning casework shows no signs of slowing down.
The U.K. Serious Fraud Office carried out several residential raids as it announced the launch of a criminal investigation into collapsed property investment firm Signature Group.
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