Originally Posted By: BBC News
The Serious Fraud Office (SFO) is to investigate the circumstances surrounding the demise of Birmingham-based carmaker MG Rover in 2005.

BBC business editor Robert Peston says Business Secretary Lord Mandelson will issue a brief written statement on Monday confirming the move.

It follows a four-year inquiry into the collapse, which led to over 6,000 job cuts.

The four executives in control of MG Rover at the time said there was "no suggestion of improper conduct".

A spokesman for the MG Rover directors said: "The directors have at all times willingly accounted for their actions, which kept MG Rover alive for five years."

About time; whilst BMW did their very best to rip the heart out of Rover, and kill it off by taking/wrecking everything they had going for them, the Phoenix four made tens of millions out of sending the company into adnministration, 400 million needs to be accounted for, and phoenix four need to be sent to prison if they cannot account for it. They also took ludacris salaries and pensions upwards of 70 million in four years, that the company quite simply could not afford.

But they should also have an enquiry into the governments decision to deny them a miserly 120 million security, which was required so that the SAIC deal would go through, when they can freely hand billions to foreign car companies. Ive never yet to this day understood that decision, they ended up paying over 150million to the 12,000+ workers who lost their jobs as a result of it, plus many are still out of work and having to recieve unemployment benefits to the tune of millions each year etc! And people have the nerve to say it is only the Tories who kill off British industry.

BBC News Report