SFO launches criminal investigation into ex-law services company Quindell

The Serious Fraud Office (SFO) has confirmed the opening of a criminal investigation into the 'business and accounting practices at Quindell', the company which more than halved its 2014 legal revenue figure this week when it restated the accounts.

06 August 2015

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Quindell gave a statement saying: 'The Serious Fraud Office informed the company that it had opened an investigation, which the company understands relates to past business and accounting practices at the company. The company will continue to cooperate with all relevant regulatory and law enforcement authorities.'

Controversial transactions

Now largely disinvested from the legal sector, Quindell adjusted its stated income for legal services in 2014, cutting the figure from £510m to £220m. The company has had a rocky time. Shares were suspended for a period following heavy falls in the share price and some controversial transactions. It eventually sold off most of the legal sector to Australian firm Slater & Gordon. Source: Legal Business