Preliminary inquiry into News International by Fraud Office

[muriel_volestrangler]

Source: Channel 4 News

First there was the Metropolitan Police investigation into phone hacking. Then it was an investigation into the payment of police officers for information.

But now, and potentially most concerning to Newscorp shareholders, the focus has moved to the company finances. Channel 4 News has learnt that the Serious Fraud Office (SFO) is making preliminary inquiries into News International.

Investigators are looking at many cases involving News International to establish whether a full formal investigation is required.

The former minister Tom Watson, wrote to the SFO's Director urging him to investigate alleged breaches of Company Law at News International, relating to payments made after the phone hacking scandal. He said the payments were a "gross misuse of shareholders' money".

Read more: http://www.channel4.com/news/preliminary-inquiry-into-news-international-by-fraud-office

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Just as some have said that Murdoch could be in trouble in the US because company money was used to pay police, and it wasn't recorded, the same thing can apply in the UK.

[salin]

1. I just saw this... whoah.

and big score for the tenacity of MP Watson.

All the things (like requesting such an investigation) would have gotten no where just a scant few weeks ago.

[chowder66]

2. "whether a full formal investigation is required"?

It seems that it IS required. News International and all things Murdoch, Scotland Yard and Politicians.....what more does one need to "look into" a "full" investigation?

Investigate Damnit!

How can anyone ever trust a Murdoch business again?

[bloomington-lib]

3. They have to investigate to see if there's a need to investigate further?

I'm pretty sure if I tried to pay off the police, there would be an immediate full investigation.

Either way it's good news.