The Serious Fraud Office's (SFO) investigation of property investor Robert Tchenguiz hit a new obstacle after the High Court ruled that the search warrants used to raid his properties in 2011 were unlawful. Lord Justice Thomas said that the evidence presented by the agency to obtain the warrants as part of its investigation into the Tchenguiz brothers' role in the collapse of Icelandic bank Kaupthing was "unfair and inaccurate". However, the judge also stressed that the SFO needed more funding, stating that "incalculable damage" would be done to London's financial markets if "proper resources were not made available".
What the commentators said:
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In the SFO's "too-long roster of boo-boos", this judgement could be "its most embarrassing", said Robert Peston on BBC.co.uk. Its budget could be squeezed further if it has to pay the Tchenguiz's defence costs. Last year Home Secretary Theresa May tried to close it. Perhaps she will now "put it out of its misery".
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