Four people have been charged over the fraud at café company Patisserie Valerie. Ordinary shareholders in the company were wiped out in 2018 after the accounts were shown to be fictitious.
More details here: https://www.sfo.gov.uk/2023/09/13/sfo-charges-four-individuals-behind-patisserie-valerie-collapse/
A shame it has taken so long to actually bring charges which is not unusual in fraud cases.
Auditors Grant Thornton were also fined over their involvement in the case. Grant Thornton was fined £2.3m because it had “missed red flags” and failed to question information provided by management. A trivial fine in relation to the losses suffered by investors.
Roger Lawson (Twitter https://twitter.com/RogerWLawson )
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