Four people arrested as Fareham company entangled in £44m fraud operation
A total of £44m was defrauded between the three companies involved, the Serious Fraud Office says.
Four people have been arrested in a multi-million pound fraud investigation that involves a Fareham-based company.
According to the Serious Fraud Office (SFO), a trio of companies were allegedly involved in defrauding the government over an energy efficiency scheme, submitting claims where little or no work was undertaken.
It’s alleged that between the three firms, £44m was defrauded. Working with the National Crime Agency, the SFO conducted a major operation across the UK with investigators arresting four people on suspicion of conspiracy to defraud.
Among the companies being investigated is South Coast Insulation Services, based in Fareham.
Graham McNulty QPM, director of the SFO, said: “This scheme was designed to reduce carbon emissions, help households cut costs and stay warm – instead in many cases we suspect little or no work was done.
“We are particularly keen to hear from installers and assessors who worked on these contracts and know what really happened. Our door is open, and coming forward is the right thing to do.”
The SFO is now appealing for information on South Coast Insulation Services, specifically into ECO4 projects between 2022 and 2024. All information will be treated as confidential.
Solicitor general Ellie Reeves KC MP added: “This scheme was meant to tackle fuel poverty and improve people’s homes. Instead, the Serious Fraud Office is investigating claims £44m in public money was paid to companies that allegedly did little more than submit false invoices for work they failed to carry out.
“I am sickened by those who want to profit off the back of a scheme designed to help vulnerable people, and I’m confident the SFO’s investigation into allegations of substantial fraud will deliver the answers victims and the public deserve.”
The SFO’s press team has confirmed to The News that South Coast Insulation Services is now in administration - but could not confirm if any of the arrests were related to the firm.
According to administration documents, the company was deemed insolvent after the government brought an end to these energy schemes, with suppliers also pausing new commitments and no sale options being found.
To give information to the SFO, email [email protected].