The Insolvency Service has launched an investigation into a suspected Ponzi scheme run by the convicted fraudster who brokered Sir Philip Green’s £1 sale of BHS.
The government agency wrote to creditors of B52 Investments this month to say that it was looking into the conduct of the company’s former directors.
B52, which was marketed as a feeder fund for the pop-up hotel operator Snoozebox, was run by Paul Sutton, who introduced serial bankrupt Dominic Chappell to the idea of buying the department store chain BHS from Green.
