The Director of the Serious Fraud Office has today discontinued the investigation into the circumstances surrounding the collapse of Icelandic bank Kaupthing hf on the grounds that there is insufficient evidence to justify its continuation. The SFO will continue its close cooperation with the Special Prosecutor's Office in Reykjavik.
Notes for editors:
- The SFO announced the opening of an investigation on 16 December 2009 into suspected Fraud offences committed within the UK jurisdiction in relation to the Icelandic bank Kaupthing hf, prior to the bank's collapse in October 2008.
- The Serious Fraud Office is a government department responsible for investigating and prosecuting serious and complex fraud and corruption. The SFO is headed by the Director (David Green CB QC) who exercises powers under the superintendence of the Attorney General. These powers are derived from the Criminal Justice Act (1987).
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