The Serious Fraud Office (SFO) has launched an investigation into Rockfire Investment Finance following fraud allegations made by Thurrock Council.
The local authority had previously invested millions of pounds into solar farm bonds sold by Rockfire Investment Finance and other Rockfire companies.
The council's dealings with the company took place between 2016 and 2020, however, the Rockfire group later entered liquidation, and Thurrock Council ‘was effectively declared bankrupt' in December 2022.
Following the allegations, the SFO has issued a series of Section 2 notices to obtain information about Rockfire and the solar farm bond scheme.
Victoria Holloway, cabinet member for place and the environment, said the investigation ‘represents a vital step toward securing justice and ensuring accountability on behalf of our communities'.
She added: ‘Thurrock Council will continue to fully support this investigation and will make sure the SFO has access to all the information it requires, as we have continued to do since these losses were uncovered.
‘Alongside this, the council is vigorously pursuing civil claims against Rockfire and its owner, Liam Kavanagh, to recover public funds lost through these failed investments.'
