The Serious Fraud Office (SFO) has begun a criminal investigation into Arena Television, the outside broadcast firm that collapsed into administration last year.
The SFO announced that its criminal investigation will examine the business practices of individuals associated with Arena Television Limited and its linked entities.
Three sites were searched by the SFO with support from the UK’s National Crime Agency (NCA).
The SFO said that two individuals have been arrested and are being questioned.
In a statement, the SFO said: “These searches and arrests form part of wider investigative activity being undertaken by the SFO in relation to this matter.”
Arena, which regularly provided OB services to broadcasters such as the BBC, ITV and Sky for events such as Wimbledon, Euro 2020 and T20 cricket, abruptly ceased trading on 10 November 2021.
Arena collapsed owing £282 million, according to its auditors. Much of the money is owed to lenders against assets which do not exist.
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