Hotchin, Watson didn’t commit fraud at Hanover, SFO concludes

Mon, 29 Apr 2013

By Paul McBeth April 30 (BusinessDesk) - The Serious Fraud Office won't lay charges against any of Hanover Finance's directors or owners including Mark Hotchin and Eric Watson, saying it's exhausted all avenues of investigation and found nothing to meet its threshold to pursue a prosecution. Acting chief executive Simon McArley said there were serious questions over Hanover's behaviour, including how it disclosed its financial position to investors from late 2007, its solvency at times when dividends were paid up to the 2008 moratorium, the...

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