Outline

Operating as Gresham Ltd and Gresham Finance (London) Ltd (see note 1) the company offered commercial loans of up to £250 million. It promoted its services by advertising in newspapers, magazines and on the internet. Applicants for loans were charged between five and fifty thousand pounds for a due diligence check.  Most of the applications came from overseas for commercial projects such as developing resorts and building hotels (in Austria, Turkey and other countries).

Once an applicant had paid the due diligence fee there was a next-stage payment (a security deposit) set at between 1% and 5% of the loan amount. Various other company names were also used to offer a similar service.

The same suspects were also involved in a retail property renting business operating as Gresham Ltd, Park Regent Ltd and Castlereagh London Ltd (see note 2). The suspects used a complex number of company names in their business dealings, including the following: 45 Oxford St Ltd, Renaissance Trust, Cutting and Company (Investments) Limited, Paul Street Media Limited and the Alliance Trust (see note 3).

Searches and arrests

Search warrants were executed at eighteen addresses in London, Surrey, Cheshire and Derbyshire in a mixture of commercial and residential properties. The searches involved 70 personnel from the SFO and 40 officers provided by the City of London Police, the Derbyshire Constabulary and the Cheshire Police.

Five men and one woman have been arrested and three will appear in court later today at City of London Magistrates Court.

The SFO are continuing enquiries into this case.

SFO Appeal

The SFO would like to hear from anyone who believes that they might have information useful to the investigation. The number to call is 0207 239 7079

Notes for editors:

1.     Gresham Finance (London) Ltd is not to be confused with Gresham Finance Ltd, which is an unconnected company and not under investigation.

2.     Castlereagh London Ltd is not to be confused with Castlereagh Ltd of Dublin, which is an unconnected company and not under investigation.

3.      Alliance Trust is not to be confused with the Alliance Trust PLC, the FTSE 100 investment trust, which is an unconnected company and not under investigation.

Serious Fraud Office, Elm House, 10-16 Elm Street, London, WC1X 0BJ

Press Office tel: 020 7239 7045/7000/7004/7132 or mobile: 0796 655 8903 or 0777 616 0985

Main switchboard tel: 020 7239 7272

press.office@sfo.gsi.gov.uk – or via – www.sfo.gov.uk

The thefts are believed to have taken place sometime between 20 April 2009 and 14 May 2009. The discovery was made recently and reported to Police this week.

They are owned by a company who have holding nets in the loch. Anyone who may be offered salmon by someone unknown to them or from an unauthorised source is urged to contact:
Dornoch Police Station on 01862 810222
or call Crimestoppers 24-7 anonymously on 0800 555 111.

ends

On Saturday (23 May 2009) an off road motorcyclist collided with a gate on the tow path near Tomnahurich Bridge. The rider sustained injuries that required treatment at Raigmore hospital.

The use of off road bikes and quads is an increasing issue that is leading to numerous calls to the Police and councillors regarding the anti social use of this type of vehicle, particularly along thetowpaths.

British Waterways who own and control the towpaths, along with Northern Constabulary and Highland Council are committed to enforcing the law with regards the use of off road and illegal motor cycles and quad bikes and therefore reducing the instances of anti social behaviour.

Northern Constabulary and partner agencies will be taking positive action on the misuse and anti social use of such vehicles and Police patrols will be increasing along the towpaths to deter the use and enforce relevant legislation. Action will also be taken against persons using such vehicles on land without authority.

Sergeant Gus Stewart commented: “The most important thing for us is safety, both for the riders and the general public using such public areas/tracks. We ask that if you are using any such vehicle you seek approval of the land owners first or seek to find approved clubs/tracks in the area.

“I would also like to remind riders ,if your motorcycle is being used on a road or public place it requires to be covered by a policy of insurance. If you don’t, you run the risk of being reported, your motorcycle being seized, and in the worst case, it thereafter being destroyed.

“All we ask is for riders to enjoy the use of their vehicles in a safe, responsible way.”

Northern Constabulary are asking if any members of the public have information about people who use off road motorbikes to contact Burnett Road Police Station on 01463 715555 or email invernesscommunityinfo@northern.pnn.police.uk or Crimestoppers anonymously on 0800 555 111.