The U.K. Serious Fraud Office misled a judge when it obtained search warrants for the offices of property tycoons Vincent and Robert Tchenguiz, a London court said in a ruling criticizing the white-collar crime prosecutor.
Real estate held by some of the U.K.’s biggest supermarket chains is attracting private-equity firms and hedge funds after a 35 percent gain over five years made the stores worth more than the companies that run them.
U.K. entrepreneurs Vincent and Robert Tchenguiz were detained today as part of the Serious Fraud Office’s investigation into the collapse of Iceland’s Kaupthing Bank hf, according to a person familiar with the case who declined to be named.
U.K. property tycoon Robert Tchenguiz is heading an Abu Dhabi-backed group that has agreed to buy about 200 million pounds ($315 million) of the debt owed on Banco Santander SA’s 2.3 billion-euro ($3 billion) Madrid-based headquarters, the Financial Times reported, citing a person familiar with the matter. If the debt becomes in breach or expires, the group would have the opportunity to gain control of the development, the FT said.