Search warrants issued to the Serious Fraud Office as part of its investigations of property tycoons the Tchenguiz brothers were unlawful and obtained by “misrepresentation”, the High Court has ruled.

The warrants were issued as part of the SFO’s inquiry into their role in the collapse of Icelandic bank Kaupthing.

Robert Tchenguiz said the SFO’s conduct had been “outrageous and unlawful”.

But the SFO pledged to continue investigating the case “with vigour”.

Vincent and Robert Tchenguiz, the high-profile brothers who made their fortunes in property, had their offices searched and were arrested in March 2011.

It was part of a well-publicised early-morning operation involving 135 police officers and SFO investigators.

Source: BBC