Serious Fraud Office to probe Icelanders

Posted 21/12/2009 - 11:40 by anrigaut

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2009-12-19 (All day)

A FAILED bank which took on accounts from a Derbyshire Building Society subsidiary is being investigated by the Serious Fraud Office.

Savers were left out of pocket when, in December 2007, the building society passed on their accounts to Icelandic bank Kaupthing, which then collapsed.

Kaupthing is now being investigated by the serious fraud office which particularly wants to find out if the bank was making "misrepresentations or false representations" in a push to attract UK investors.

But the fraud office was unable to confirm whether the Kaupthing subsidiary, Kaupthing Isle of Man, which took on the Derbyshire Building Society accounts would be part of the investigation.

One of those affected by Kaupthing Isle of Man's collapse was Susan Soar, 57, of Barnsley, who had poured £200,000 into the account – most of which she has not got back.

She said: "I feel aggrieved that another Christmas is coming and I don't have the money back. I'm pleased this investigation has begun and I hope they look into Kaupthing Isle of Man as well."