Serious Fraud Office to investigate MG Rover collapse

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Lord Mandelson will tell Parliament today that he has asked the Serious Fraud Office (SFO) to investigate the collapse of MG Rover, the Midlands carmaker, four years ago.

The Business Secretary is expected to confirm that the long inquiry into the group’s failure, which cost an estimated 15,000 jobs, has concluded that there are grounds for a criminal investigation.

A spokeswoman for the minister refused to comment last night on the inquiry’s conclusions, but said: “We are intending to make a statement to Parliament tomorrow, which will update MPs on the MG Rover inquiry.”

The inquiry report, which cost £15.9 million, was delivered to the Business Secretary almost a month ago, but the decision to call in the SFO is expected to delay publication indefinitely to avoid prejudicing its investigation.

Source: The Times