- Serious Fraud Office asks for increase to pursue cases
- Prosecutor says it needs 15.5 million pounds urgently
The U.K. Serious Fraud Office asked the government for a 21 million-pound ($31 million) cash injection to fund a number of large-scale corruption investigations.
In a letter to Parliament published Thursday, Solicitor General Robert Buckland made the request for the SFO. Pending its approval, Buckland said the agency needed 15.5 million pounds of the amount for “urgent expenditure.”
While the SFO’s budget has plunged since the financial crisis, the agency has a “blockbuster funding” agreement with the U.K. Treasury that allows it to ask for a top-up for important cases. This facility has been used every year since 2012.
The prosecutor has pursued a probe into alleged manipulation of the foreign-exchange market as well as corruption investigations into Rolls Royce Holdings Plc and Barclays Plc. A spokesman for the SFO declined to comment.