Tchenguiz blames fraud squad raid for losses

ROBERT Tchenguiz’s investment vehicle has blamed a Serious Fraud Office (SFO) raid for pushing it into a £2.2m loss for the year to May 2012. R20 Limited said in its accounts that the SFO’s search of its offices in March 2011 “had a direct impact on the business opportunities presented to the company” and that its £33.9m net liabilities mean it relies on financial support from outside the firm.