SFO probes Aero collapse
LONDON (Bloomberg) — The UK Serious Fraud Office is investigating the collapse last year of Aero Inventory Plc, a supplier of parts to Qantas Airways Ltd. The SFO, which prosecutes white-collar crime, opened the investigation due to "information it received after Aero collapsed", spokesman David Jones said yesterday. He declined to immediately comment on the allegations.
Aero Inventory hired KPMG LLP as administrators after attempts to raise working capital failed. The company said Oct. 26 that it discovered "certain issues" regarding the value of some inventory purchased in 2008. A week later, the company said the issues were "broader" than previously thought.
KPMG spokesman Patrick Tooher declined to comment.
The company had its shares suspended in October ahead of a planned move to the main market of the London Stock Exchange.