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Insurance claims handler Quindell faces fraud probe

Troubled insurance claims handler Quindell is to be investigated by the Serious Fraud Office (SFO).

The firm, which is already under investigation by the Financial Conduct Authority (FCA), revealed deepening losses as it published a delayed set of annual results for 2014.

Shares slumped last year after a US hedge fund publicly questioned the firm's business model.

Trading in the stock on London's Aim market was suspended in June, after the FCA said it was probing statements made about Quindell accounts. The SFO confirmed that director David Green "has opened a criminal investigation into business and accounting practices at Quindell plc".

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