Arrests in Greater Manchester under Serious Fraud Office probe into 'past management' of social housing company

Two people were arrested in Greater Manchester as part of a Serious Fraud Office (SFO) investigation into Home REIT, a social housing investment company. The raids took place in Altrincham and a commercial site in Manchester, with the SFO launching a probe into alleged bribery and fraud related to the company’s past management, potentially involving £300 million. Nationally, six arrests were made, including five men and one woman aged 40 to 70, all taken into custody for fraud-related offences under UK law. Home REIT, which promised to house vulnerable people while providing returns for investors, had its trading suspended due to concerns over property valuations and the ability of tenants to pay rent. A significant number of investors are now seeking legal action for damages as the company winds down operations. The SFO emphasised the seriousness of the allegations, highlighting the detrimental effects of fraud.

Read the full article at Manchester Evening News