Overview
- Seven sites were searched, including homes in Altrincham, Maidenhead and London, a commercial site in Manchester, and a residence in Venice with assistance from Italy’s Guardia di Finanza.
- Five men and one woman aged between 40 and 80 were arrested on suspicion of offences under the Bribery Act 2010 and the Fraud Act 2006 and remained in custody.
- The investigation focuses on the past management of Home REIT, which raised more than £850 million after listing in 2020 by selling investments tied to housing for rough sleepers, veterans and people with addiction.
- Home REIT’s shares were suspended in January 2023 following concerns over property valuations and tenant reliability, and the company is in a managed wind-down as investors pursue legal claims.
- Regulatory scrutiny continues alongside the SFO case, including an FCA investigation and an FRC probe into auditor BDO, with earlier reviews citing undisclosed conflicts and major valuation write-downs.