Serious Fraud Office investigation into Hanover Finance cost $1.1 million

Fri, 10 May 2013

By Tina Morrison May 10 (BusinessDesk) -The Serious Fraud Office investigation into failed company Hanover Finance cost the regulator about $1.1 million. The SFO spent about $600,000 on its own staff and overheads and a further $505,111 on advisers during the 32-month investigation, it said in a statement today. The office last week said it won't lay charges against any of the firm's directors or owners because it had exhausted all avenues of investigation and found nothing to meet its threshold to pursue a prosecution. "Investigations of th...

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