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SFO arrests flight-risk suspect of car-leasing investigation

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The SFO has arrested a suspect that was being investigated as part of the Raedex Group's enquiry.

The Serious Fraud Office (SFO) has arrested a suspect that was being investigated as part of an ongoing enquiry into the Raedex Consortium, which includes companies such as Buy2Let Cars and Paygo Cars.

Considered a flight-risk, the suspect was apprehended with the help of the Surrey Police and is being questioned by SFO officers.

Today’s arrest follows the SFO’s investigation opening in April 2021, when officers raided two properties, arresting one person and interviewing two others.

Authorities are investigating car leasing companies that gave investors the chance to invest in cars that would be leased out, losing in excess of £70m. The SFO is currently asking all those who invested in the fraudulent schemes to come forward.