Serious Fraud Office Called Following MG Report

The Serious Fraud Office has been asked to consider whether there should be a criminal investigation into the collapse of MG Rover, after an inquiry into the demise of the MG Rover Group on in April 2005 owing creditors nearly £1.3 billion.

According to a statement, the decision was taken after the Secretary of State for Business, Innovation and Skills studied the findings of independent inspectors. Their report is the result of an inspection set up by the then Secretary of State for Trade and Industry after MGRG, the manufacturer of Rover and MG cars, went into administration. The report was completed on 11 June 2009 however, it isn’t going to be published at this time in order to ensure “any potential prosecution is not prejudiced,” the statement added.

Business Secretary Lord Mandelson said: “There has been a comprehensive and thorough investigation into the events which led to the company failing, workers losing their jobs and creditors not getting paid. The SFO must now see if there are grounds for prosecution.”