US EditionSFO Launches £300m Bribery and Fraud Investigation Into Home REIT's Past Management as Raids Continue
The Serious Fraud Office suspects £300 million in bribery and fraud involving Home REIT’s management, with hundreds of investors pursuing damages over alleged misuse of funds.
- On Wednesday, the Serious Fraud Office launched a bribery and fraud investigation into Home REIT, with raids at multiple UK sites and suspected offending valued at 300m, the SFO said.
- Investors were told their funds would buy and restore properties to be block-let to charities housing vulnerable groups, while a November 2022 investor report flagged valuation and tenant concerns.
- SFO investigators searched homes in Altrincham, Trafford, Maidenhead, Berkshire, London, and a Manchester commercial site, with assistance from the National Crime Agency and Italy's Guardia di Finanza in Venice, Italy; six suspects remained in custody on Thursday.
- Legal action by investors seeks damages after the firm's collapse, while SFO officials warned the probe affects vulnerable people and over 600 properties were surrendered in 2024.
- Following the raids, the Serious Fraud Office said it deployed over 150 staff, cautioned that fraud harms people and business confidence, and works with enforcement partners at home and abroad.
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20 Articles
Major social housing provider accused of £300m in bribery and fraud offences
The UK Serious Fraud Office has launched a bribery and fraud investigation into Home REIT — a listed UK social housing company. This case highlights the scale of bribery concerns currently affecting the housing sector. In total, the offences have an estimated value of £300m, with bribery suspected as a significant factor. Home REIT owned properties, which they claimed were for those who are vulnerable or experiencing homelessness. SFO investigat…
UK social housing firm faces $404 million fraud, bribery probe
Britain's Serious Fraud Office has arrested six people in an estimated 300 million-pound ($404 million) bribery and fraud investigation into the former management of social housing group Home REIT , it said on Wednesday.
Home REIT Scandal: Arrests Made in Major Fraud Investigation
The UK's Serious Fraud Office has arrested six in a £300 million investigation into the former management of Home REIT, a social housing group meant to aid vulnerable people. Concerns were raised about property valuations and tenant payments, leading to trading suspension.
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