Government launch investigation into alleged multi-million pound fraud against Thurrock Council
The authority invested in solar farms between 2016 and 2020, and the company has since entered liquidation
The Government's Serious Fraud Office has launched an investigation into alleged fraud committed against Thurrock Council.
Between 2016 and 2020, Thurrock Council invested millions into solar farms, via a bond scheme sold by the UK-based Rockfire Investment Finance Plc and other companies operating within the Rockfire Group.
Rockfire offered multiple investment opportunities in renewable energy bonds, offering a return on investment between three and six percent as well as the return of the initial bond purchase cost. The group has since entered liquidation.
Thurrock Council was effectively declared bankrupt in December 2022 impacting local residents through council tax rises and cuts to services.
Director of the Serious Fraud Office, Nick Ephgrave QPM, said:
“Today’s action is a significant step in our investigation concerning this suspected criminality.
“We are grateful for the assistance of Essex Police, Thurrock Council and others in the early stages of this enquiry.”
Cllr Victoria Holloway, Cabinet Member for Place and the Environment, said: “Since these catastrophic investments first came to light, this administration—standing firmly alongside our residents—has consistently and rightly called for a full investigation. We therefore strongly welcome today’s announcement from the Serious Fraud Office (SFO). It represents a vital step toward securing justice and ensuring accountability on behalf of our communities.
“Thurrock Council will continue to fully support this investigation and will make sure the SFO has access to all the information it requires, as we have continued to do since these losses were uncovered.
“Alongside this, the council is vigorously pursuing civil claims against Rockfire and its owner, Liam Kavanagh, to recover public funds lost through these failed investments. Today’s announcement strengthens our resolve to see this through.”