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Tchenguiz Shrinks Business, Sells St. Tropez Home, Times Says

May 26 (Bloomberg) -- Real-estate investor Vincent Tchenguiz has shrunk his business, cut staff and sold property in response to an investigation by the U.K. Serious Fraud Office over the collapse of an Icelandic bank, the Times reported.

“Basically I went into downsizing,” Tchenguiz said in an interview to the Times. “I had to lay off staff, had to cut businesses. I sold my house in St. Tropez, cut back from two speed boats to one. I had 14 cars, now three.”

To contact the reporter on this story: Liam Vaughan in London at lvaughan6@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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