Newspaper article The Evening Standard (London, England)

A Phoney Lord but No Fraud, Says Moulton

Newspaper article The Evening Standard (London, England)

A Phoney Lord but No Fraud, Says Moulton

Article excerpt

Jon Moulton, the man whose bid for MG Rover was rejected by the government, today praised the report into its demise, but said there was nothing in it that could give grounds for a fraud investigation.

He pointed out highlights including the finding that one of the senior executives involved with Rover had falsely described himself as a lord in filings with Companies House.

Brian Parker explained to the investigators that his use of the honorific had been a "mistake", but the investigators concluded: "We find it difficult to believe he did not notice this error at the time."

Moulton told Sky news: "It is a really good read, quite amusing in parts, but there is not much evidence of something that looks like fraud.

"there are some very definitive efforts to extract value for the Phoenix Four and others, but I doubt if anybody would reasonably say this was a case for the Serious Fraud office."

Moulton, who has just quit his private equity firm, Alchemy, which he was running at the time, said the Government and the Phoenix Four had acted badly over the affair. …

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