SFO INVESTIGATES GBP282 MILLION ARENA TELEVISION FRAUD
March 2nd, 2022
The UK Serious Fraud Office (SFO) is investigating a GBP282 million (USD377 million) fraud linked to collapsed broadcaster Arena Television. The company, which offered broadcast trucks for major sporting and music events to the UK’s leading television stations, including the BBC and ITV, folded in November 2021, owing 55 lenders for purchases of equipment that it never actually bought. The Financial Conduct Authority (FCA) could also probe due diligence failures by these lenders, including Shawbrook Bank, which has lost GBP34.6 million (USD46.3 million), HSBC ...
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