We aim to make this site as accessible as possible and therefore have provided the settings below to use if you are finding it difficult to view this website. See the SFO Accessibility Statement for more information.

Where it is appropriate to provide a Welsh translation, you can switch to Cymraeg. See the Welsh Language Commissioner website for more information.

Use the settings button in the bottom right corner of the page to access these settings again.

We would like to use Analytics Cookies on our website. 

Turn these on below if you are happy with us collecting information on how our site is used, in order for us to improve the overall experience of our website. 

All other cookies are necessary and therefore by continuing to browse this website, you are agreeing to the usage of these cookies.

 See the SFO Privacy Policy for more information. 

Analytics Cookies

SFO arrests flight-risk suspect in car-leasing investigation

20 October, 2021 | Case Updates

  • A suspect linked to the Raedex Consortium case has been arrested, after the Serious Fraud Office determined that he intends to leave the UK.
  • Assisting the SFO, Surrey Police arrested the suspect earlier this morning.
  • The SFO is asking all investors linked to the Raedex Consortium to assist the investigation, by completing a questionnaire.

Earlier this morning, the Serious Fraud Office (SFO), supported by Surrey Police, arrested a suspect in connection with an ongoing investigation into the activities of the Raedex Consortium.

The SFO determined that the suspect could be preparing to leave the United Kingdom. The suspect has been taken to a local police station where they are being interviewed by SFO Officers.

This is the latest development in the SFO’s probe into suspected fraud at the Raedex Consortium, which includes the companies Buy2Let Cars, PayGo Cars and Raedex trading as Wheels4Sure and Rent2Own Cars, in the period 2012 to 2021.

The SFO is investigating car leasing schemes, where investors were given the chance to invest in cars which would be leased out. At the point the companies entered administration, over 800 people invested in excess of an estimated £70 million and stood to lose a significant amount.

Today’s arrest follows the SFO’s announcement of the investigation in April 2021, when investigators raided two properties, arrested one individual and conducted interviews of two suspects.

As the investigation continues, the SFO is appealing to investors in the suspected fraudulent schemes to come forward and complete a questionnaire by 7 January 2022. 

The SFO fights complex financial crime, delivers justice for victims and protects the UK’s global reputation as a safe place to do business. The SFO investigates and prosecutes the most serious or complex cases of fraud, bribery and corruption, while also recovering the proceeds of crime worldwide.

Related Cases