SFO suffers High Court setback in Kaupthing investigation

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The Serious Fraud Office (SFO) has pledged to continue its investigation into a property magnate linked to the collapse of Icelandic bank Kaupthing, despite a setback in the High Court related to search warrants it obtained as part of its inquiries.

The High Court on Tuesday said warrants issued to the SFO in its investigation into Robert and Vincent Tchenguiz must be set aside. Only Robert Tchenguiz is still being investigated by the SFO. As of last month, Vincent is no longer considered a suspect. Since May, lawyers for the brothers had argued the warrants were unlawful as they were obtained by misrepresentation and non-disclosure to an Old Bailey judge. Kaupthing was one of three Icelandic banks which failed at the height of the credit crunch in October 2008. The SFO has been investigating the brothers, who have not been...

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