News

Fraud investigation into Manchester and Liverpool sites

18 January 2019 | By CM staff

Artist's impression of Angelgate, Manchester (Image: UGC)

The Serious Fraud Office (SFO) has launched an investigation into suspected fraud at three property developments in Manchester and Liverpool.

The three sites are:

  • Angelgate, Dantzic Street, Manchester – which was being developed by Pinnacle (Angelgate) Ltd;
  • North Point Pall Mall, 70-90 Pall Mall, Liverpool – which was being developed by North Point (Pall Mall) Ltd; and
  • New Chinatown, Great George Street, Liverpool – which was being developed by China Town Development Company Ltd.

The SFO raided a number of addresses across the UK yesterday (17 January) in conjunction with Merseyside Police.

Pinnacle (Angelgate) is in liquidation and North Point (Pall Mall) is in receivership. China Town Development Company, incorporated in 2015, is still trading.

The SFO said it could not comment any further on the investigation but encouraged members of the public who had invested in any of the three developments to complete a questionnaire, which asks for details of the investment they made, the agent used, and whether or not they received any return on their investment.

Comments

Here we go again. When will they hit London ?
Is it possible when companies go into liquidation that they are forced by Law to compensate all contractors from the bottom up in other words the SME will get compensated before the big players.

Anthony Carroll MCIOB, 21 January 2019

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