GLOBAL office servicing and mail-forwarding business Servcorp UK has become the first casualty in a widespread investigation into London’s investment fraud problem, after being fined following a guilty plea to seven offences under the London Local Authorities Act.
In December, City of London Police visited Servcorp’s offices requesting to inspect the company’s list of clients – many of whom were being investigated for selling non-existent commodities including diamonds and wine to vulnerable UK consumers. When Servcorp presented its list of clients to the police two months later, files were corrupted and incomplete. The prosecution was brought as part of Operation Broadway; an initiative tackling investment fraud in the City.
Servcorp UK have been ordered to pay £21,000 in fines. It was unavailable for comment.