Serious Fraud Office gives Azlan clean bill of health
Investigation reveals nothing untoward after all
Networking distributor Azlan has been given the all clear by the Serious Fraud Office (SFO). The SFO was called in to investigate the company following allegations of financial impropriety when Azlan revised its financial results The company lost £14.1 million on sales up from £196.5 million to £293 million, compared with the £14.8 million profit forecast in April 1997 and its shares were suspended in June of that year. As reported by The Register back on 14 April 1998, the SFO teamed up with North Yorkshire police’s fraud squad to investigate the allegations. Azlan’s warehouse facility falls with the North Yorks coppers’ patch. At the time the company issued a terse press statement, in which it said its revamped management team would "give its full co-operation" to the SFO. Previously, chairman Barrie Morgans had said there was a "theoretical" case for action against the old management team. ® More Azlan stories can be accessed via The Register's old site.