SFO Investigation to Be Completed Soon

SFO Investigation to Be Completed SoonThe coming few days will decide the fate of the failed finance company Bridgecorp. The investigation of The Serious Fraud Office (SFO) will conclude soon and a decision will be coming in the next few days.

Bridgecorp had collapsed in 2007 and had around $460 million in liabilities towards debenture holders. The courts are already hearing the cases of five people connected to Bridgecorp and they are facing criminal charges over misleading statements.

Adam Feeley, SFO Chief told the New Zealand Herald that a decision on the company's fate will be taken soon. He admitted that legal advice was also being sought about the role of Five Star and Blue Chip companies.

He admitted that though six cases were dropped recently while two other cases had been given to other agencies to investigate.

He stressed that it is better to have a few cases resolved quickly rather than a lot of small cases which were insignificant and did not have much impact on the overall population.

But the remarks of SFO Chief are being criticized by many people who feel that it is going for easy prey and not focusing on bigger issues. They feel that the agency is deliberately taking small cases to increase the rate of conviction.

SFO's Former Director, David Bradshaw was also critical of the stand taken by the investigating agency and voiced his opinion on the issue. He felt that the agency will be judged by the people of New Zealand than by anyone else.