Collapse of MG Rover to be investigated by the Serious Fraud Office
By Andrew C., 30 Aug, 2010. 0 Comments
The four year government probe into the collapse of the MG Rover has indeed taken a dramatic turn. It came out that Lord Mandelson, Secretary of State for the British Labour Party, has announced to the Financial Times that he was forced to hand the case over to the Serious Fraud Office.
This was after his review of the findings into the last days of MG. The so called ‚ÄúPhoenix Four‚Äù executives who had purchased the brand from BMW for a nominal fee of ¬£10 have questioned Lord Mandelson‚ motives in delaying publication of the report. There are speculations that this is just government ruse to conceal its findings. They went on to say that there are serious questions as to how many leas there will be for SFO to follow after four years since the last MG came out of the brand‚ plant in Longbridge and the company collapsed under the administration‚ guidance. They questioned further that if there were really suspicions of criminality, why then SFO was not invited to handle the case at a much earlier date.
[via autocar]
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