Fraud watchdog makes arrest in collapsed Arena Television probe
The Serious Fraud Office (SFO) has arrested a man in connection with its investigation into the collapsed broadcaster Arena Television.
On Monday 16 December, a man in his 40s was arrested and taken to a police station in West London, with the assistance from the Metropolitan Police.
The SFO launched its probe back in 2022 after it along with the National Crime Agency searched three sites and arrested two individuals.
Arena Television was a broadcaster that collapsed in 2021 after it was suspected of concocting thousands of fake assets in order to score nearly £300m in loans.
The alleged fraud left some 50 lenders, including HSBC, millions out of pocket, and as a result, it led to criminal investigations as well as civil lawsuits.
The two former bosses Robert Hopkinson and Richard Yeowart reportedly stood trial last June in France for money laundering and using false documents.
In the latest development in the SFO’s case, a spokesperson said: “This is the latest step in a wide-ranging and complex inquiry.”
“We are determined to identify whether criminal offences took place and, if so, put those responsible before the courts,” they added.
On the civil side, back in July it was reported that the liquidators of collapsed broadcaster Arena Television have launched a civil claim against Lloyds Bank and Bank of Scotland.
While City PM revealed in October, that the liquidators of broadcasting equipment company Sentinel Broadcast launched legal action against Lloyds Bank. The company collapsed after its director came under the microscope for its relationship with Arena Television.