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Court Grants Review of Tchenguiz Brothers’ Arrests and Searches

Feb. 22 (Bloomberg) -- A court granted a request from real estate investors Vincent and Robert Tchenguiz for a review of their arrests following an investigation by the U.K.’s Serious Fraud Office.

A court will hear arguments in May from the Tchenguiz brothers that their detentions in March 2011 were “unlawful,” Robert Tchenguiz said in an e-mailed statement.

“I am confident that in due course the court will find in my favor and will vindicate the view which I expressed at the time” that the SFO’s actions “were unlawfully disproportionate,” he said.

The Tchenguiz brothers were arrested, and later released without charge, following an SFO investigation into the collapse of Iceland’s Kaupthing Bank Hf. They were among seven men arrested in London, and two in Reykjavik, Iceland, after two businesses and eight residences were searched.

David Jones, a spokesman for the SFO, said the agency didn’t challenge the brothers’ request.

-- Editor: Christopher Scinta

To contact the reporter on this story: Ben Moshinsky in London at bmoshinsky@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.

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