London: SFO headquarters
According to a report by the Daily Telegraph, the businessman hopes to be compensated for the 18 months he was under suspicion because of the fraud buster’s investigation.
Mr Tchenguiz is expected to first sue the SFO for wrongful arrest or false imprisonment and then, if successful, sue for what could be millions of pounds in damages.
Robert’s brother, Vincent, has also threatened to sue the SFO for £100 million in damages. But before any action can be taken, the brothers face a costs hearing connected to a judicial review they brought against action taken by the SFO. The hearing is expected to take place before Christmas.
Mr Tchenguiz’s lawyer, Ian Burton of North West criminal defence firm Burton Copeland, declined to comment.