SFO investigation into ENRC becomes formal

Miner Eurasian Natural Resources Corp. (ENRC) has said its notes the Serious Fraud Office (SFO) has moved to a formal investigation, with which it is 'assisting and cooperating fully'.

Miner Eurasian Natural Resources Corp. (ENRC) has said its notes the Serious Fraud Office (SFO) has moved to a formal investigation, with which it is 'assisting and cooperating fully'.

The investigation is related to corporate governance issues at the company including potentially fraudulent payments of at least $100m over four years.

Law firm Dechert was investigating the issues until it was fired by ENRC just weeks before it was due to unveil its findings of the investigation.

"ENRC is committed to a full and transparent investigation of its procedures and conduct," the company said on Thursday.

NR

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