24 Jun 2011

SFO closes investigation on two former Henderson companies

9:44 pm on 24 June 2011

The Serious Fraud Office (SFO) will close its investigation into two property development companies once owned by bankrupt David Henderson.

The SFO says the initial allegations that Property Ventures and Cashel Ventures misled lenders to secure $7 million worth of loans to build So Hotel in Christchurch could not be supported by further evidence.

Property Ventures was placed in receivership in March last year, and Cashel Ventures went into liquidation in December.