Tchenguiz brothers set for new battle with SFO
PROPERTY tycoons Vincent and Robert Tchenguiz have won the right for a judicial review of the circumstances surrounding their arrests last year during a Serious Fraud Office probe.
Yesterday the embattled SFO did not contest High Court applications by the brothers, who were held in March as part of the SFO inquiry into the collapse of Iceland’s Kaupthing Bank in 2008. The judicial review hearing is expected to take place over three days in May.
They were among nine people arrested when more than 135 police officers swooped on various premises across London.
The brothers were released without charge and two months ago the Tchenguiz Family Trust threatened to sue the SFO for up to £100m in damages.
Yesterday Robert said: “I am confident that in due course the court will find in my favour and will vindicate the view which I expressed at the time that the actions of the SFO on 9 March 2011 were unlawfully disproportionate.”
The SFO has admitted there were errors in a search warrant obtained against Vincent before the March raids but is in dispute with him over what will happen to certain evidence.
Despite dropping their opposition to the review the agency is expected to contest Robert’s assertion that the warrants related to him were invalid.
The brothers are two of Britain’s best-known property entrepreneurs.