Police deny Stobart investigation claims
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CUMBRIA POLICE has denied media claims that it has been investigating Stobart Group and its chief executive Andrew Tinkler regarding its proposed purchase of property firm WADI.
An article in the Daily Telegraph last Friday (13 May) claimed the Financial Services Authority (FSA) and Cumbria police were investigating the company in connection with last month’s £120m share-placing announcement, which revealed the firm’s intention to buy WADI, which is jointly owned by Stobart chief executive Andrew Tinkler and William Stobart.
However, a Cumbria police spokeswoman says: “There is no criminal investigation into Stobart Group, chief executive Andrew Tinkler, or any other associated companies or directors by Cumbria Constabulary.” The FSA declines to comment, while Stobart Group says it believes the content of the article is false.