Lord Mandelson, the business Secretary, has asked the Serious Fraud Office (SFO) to see if there are "grounds for prosecution" against MG Rover.
The MG Rover group collapsed owing creditors nearly £1.3 billion, according to the results of the completed investigation into the group, which was delivered by inspectors on June 11th as appointed by the Department for Business, Innovation and Skills.
The four-year inquiry, which followed the company’s fall into administration in April 2005, looked into the affairs of MGRG, which led to 6,000 job cuts.
Lord Mandelson said today: "There has been a comprehensive and thorough investigation into the events which led to the company failing, workers losing their jobs and creditors not getting paid. The SFO must now see if there are grounds for prosecution."
The investigation into the Birmingham based car manufacturer was supposed to find out what happened to £400 million left to Phoenix Ventures, which took over MG from BMW in 2005.
The enquiry has already cost the taxpayer an estimated £16 million.
Mon, Jul 6, 2009
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