SFO launches probe into collapsed Carlauren Group
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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