Serious Fraud Office opens investigation into Arena Television
The Serious Fraud Office (SFO) is conducting a criminal investigation into collapsed broadcaster Arena Television.
The crime agency said it had searched three sites this morning with the support of the National Crime Agency and arrested two individuals.
These searches and arrests form part of wider investigative activity being undertaken by the SFO into the business practice of individuals associated with Arena Television which assisted with filming for Glastonbury Festival, The Voice and Euro 2020.
In a statement today the authority said “these searches and arrests form part of wider investigative activity being undertaken by the SFO in relation to this matter.
“As this is an ongoing investigation, no further comment or information can be provided at this time,” the statement continued.
Arena Television collapsed in November 2021 accused of £280m in fraud. The company provided broadcast trucks to clients including the BBC, ITV and Sky, but folded after a serial number the company provided for a piece of equipment was found to be fake.
Kroll, the administrators for the collapse, revealed that the company had duped banks into lending it hundreds of millions of dollars for assets which did not exist. Major banks including HSBC and Lloyds are believed to be owed money by the company while 62 Arena staff are owed nearly £1.3m between them.
Arena’s bosses Richard Yeowart and Robert Hopkinson disappeared shortly after the company collapsed and are thought to have left the UK.