No fraud probe into Silverjet failure
07.11.08
City watchdogs will not investigate the collapse of Luton Airport based all business airline Silverjet. The loss-making airline went bankrupt in May after an investor from the Middle East reneged on a promised £63 million loan and capital injection.
Silverjet founder Lawrence Hunt complained to the Serious Fraud Office, but the Financial Services Authority has said that it will not to investigate. Mr Hunt said he was disappointed, but added that he still had faith in the business model.
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