Latest News

  • SFO

Serious Fraud Office opens investigation into three stalled North West schemes

The Serious Fraud Office (SFO) has opened an investigation into a suspected fraud concerning three stalled property developments in the North West.

New Chinatown and North Point Pall Mall in Liverpool, and Angelgate in Manchester, are the schemes being targeted.

In conjunction with Merseyside Police, as part of a joint investigation with the North West Regional Organised Crime Unit, search warrants were executed at a number of addresses across the UK today (17 January).

The SFO, which says it cannot comment any further at this stage, is encouraging members of the public who have invested in any of the three property developments to complete a questionnaire on its website.

Developer North Point Global (NPG) announced in August 2017 that it was seeking to dispose of all of its property interests, return monies to clients and then cease operations.

At the time its Liverpool projects included the multi-million mixed-use New Chinatown project (pictured) and a significant residential scheme at Pall Mall.

Meanwhile Pinnacle, the firm behind Angelgate, a collection of 344 luxury apartments off Dantzic Street in Manchester, went into administration in 2017.