The Director of the Serious Fraud Office, following a preliminary assessment of information referred by the City of London Police, has authorised the commencement of an investigation in relation to Langbar International Limited.
Notes for editors:
- Langbar International Limited, a diversified holding company (formerly named Crown Corporation Ltd) is listed on the Alternative Investment Market of the London Stock Exchange. Trading in its shares was suspended, at the company's request, on 12 October 2005.
- On 25 November 2005, Langbar issued a statement via the London Stock Exchange's regulatory news service announcing that it could not establish the existence of, nor verify its entitlement to, bank deposits with ABN Amro BV and Banco do Brazil amounting to around £370 million and that it had informed the UK authorities of the situation.
- The City of London Police undertook an initial assessment and on 31 October 2005 notified the Serious Fraud Office ("SFO"). The City of London Police will provide officers from its Economic Crime Department to be part of the investigation team.
- The SFO is a government department headed by the Director who operates under the superintendence of the Attorney General. It was established under the Criminal Justice Act 1987 and is empowered to investigate and prosecute cases of suspected serious and complex fraud.
Serious Fraud Office
Elm House,
10-16 Elm Street,
London WC1X 0BJ
Tel: +44 (0)20 7239 7001,
Fax 44 (0)20 7837 1173,
www.sfo.gov.uk
