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Arena Television administrators widen fraud investigation

Civil investigation now includes a member of the company's finance team

The administrators of the failed Arena Television have reportedly expanded their investigation to include another of the company’s senior directors.

Kroll filed a breach of fiduciary duty case in the High Court in November last year against Arena TV’s former owner and managing director, Richard Yeowart, and Robert Hopkinson, another former director.

According to the Sunday Times, Nicholas Cousins, one of the company’s senior financial advisors, has now been named as part of the case.

Arena Television collapsed at the end of 2021 with debts of £280 million. At the time it employed 63 members of staff principally based at its offices in Redhill.

In June, Kroll released documents revealing both Yeowart and Hopkinson had been declared bankrupt.

The Serious Fraud Office opened its own investigation into the collapse in February.

In a statement, the SFO said it is conducting a criminal investigation into the business practices of individuals associated the company and its linked entities.

Three sites were searched by the SFO with support from the NCA. Two individuals were arrested and questioned.