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SFO drops probe into missing £103m Keydata assets
Markets
by Alex Steger on Nov 05, 2012 at 07:28
The Serious Fraud Office (SFO) has closed its investigation into Keydata Investment Services after failing to track down £103 million of missing funds.
The SFO had been on the trail of assets belonging to SLS Capital, the Luxembourg company controlled by David Elias, following Keydata’s collapse into administration in 2009.
Elias, who fled to Singapore, died in 2009.
A statement on the SFO website said: ‘Substantial efforts have been made to trace the assets of SLS Capital SA and David Elias in overseas jurisdictions since September 2010.
'These efforts have not met with any success and it is considered unlikely that the situation will change. Accordingly, the SFO is closing this case and will not be pursuing any further enquiries in relation to this matter.’
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