Five people arrested over Patisserie Valerie ‘accountancy fraud’

The Serious Fraud Office has confirmed that five people have been arrested in connection with fraudulent activity at embattled cafe chain Patisserie Valerie.

This is part of the SFO’s ongoing investigation into fraud in the company which saw its former chief financial officer Chris Marsh arrested. In total, six arrests have been made.

According to The Times, its columnist Luke Johnson who was also the former chairman is not among those who were arrested. The paper also said non-executive directors Lee Ginsberg and James Horler were not suspects.

Patisserie Valerie collapsed in January following a series of discoveries of fraud in its accounts. It was later bought out by Irish equity firm Causeway Capital Partners for an undisclosed sum

The SFO said: “On Tuesday 18 June, as part of a joint operation with Hertfordshire, Leicestershire and the Metropolitan Police Services, five individuals were arrested and interviewed in connection with the Serious Fraud Office investigation into individuals associated with Patisserie Holdings PLC.”