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Entrepreneurs Panel

Brian Hay
Richard O'Sullivan
Debbie Pierce
Michael Oliver
David Pollock
Tony Caldeira
Laura Tenison
Steve Purdham
Jennie Johnson
Julie Meyer
Charlie Mullins
Jeremy Roberts

Category: Serious Fraud OfficeSyndicate content

Three members of the board of French engineering giant Alstom in the UK were yesterday arrested on suspicion of bribery and corruption, conspiracy to pay bribes, money laundering and false accounting, and were taken to police stations to be interviewed by the Serious Fraud Office.

The Department for Business today announced that the independent Inspectors’ report into the collapse of the MG Rover Group will be published on September 11.

It follows yesterday’s statement from the Serious Fraud Office that it has completed its inquiries and that, having sought legal advice, it does not intend to initiate a criminal investigation.

There will be no criminal investigation into the collapse of car maker MG Rover, it was announced today.

Inquiries into the collapse have cost £16m and taken four years to complete.

But the Serious Fraud Office (SFO) says it has no grounds for further investigation. Its reasons will be published in the next few days.

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Five Minutes With

David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.

It took Richard Shonn, managing director of 151 Products, three years to find a warehouse big enough for his requirements.