Corran Missing Millions: Police ‘May Be About To Decide’ Not Pursue the Case
The Corran Hotel and Spa, on the marshlands west of Laugharne, Carmarthenshire, has swallowed some £17 million net of investors’ money, money long ago disappeared to destinations unknown (although they can be guessed). The story is chronicled here, here, here, here , and elsewhere on this blog — just search for ‘Corran’.
Courtesy of Simon Hart, MP for Carmarthen West and South Pembrokeshire, we have an update into officialdom’s investigations into the missing millions. The message is from the Financial Crime Team at the Crown Prosecution Service:
“Dear Mr Hart, I apologise for the delay in responding to your email, however I’ve been chasing the City of London Police trying to ascertain what decision they have made in relation to this matter.
“I have now received a response and it would appear that having carried out an initial scoping exercise they may be about to decide to not take it on. I am led to believe they are currently assessing the level of involvement of other interested parties, namely the FCA [Financial Conduct Authority], Insolvency Service and the SFO [Serious Fraud Office].
“I have been promised a full assessment of the review within the next 7-10 days and have been assured that we will be given the opportunity to discuss the outcome of their review.
As soon as I know more I will come back to you.”
….So the lost £ millions are not being wholly ignored, but may be in danger of being dropped down a black hole as the investigation parcel is passed from regulator to bankruptcy investigator to police and back again.
No wonder the UK is so popular with organised financial crime; we don’t seem to be anything like world class in conducting complex, multi-layered investigations.