§ 31. Mr. MorganTo ask the Attorney-General what consultations he has had with the director of the Serious Fraud Office in relation to the length of time being taken for its inquiries into the flotation of Butte Mining and allied matters.
§ The Solicitor-General (Sir Derek Spencer)The Serious Fraud Office investigation into the affairs of Butte Mining plc began in June 1992. The matter is complex and the investigation is proceeding as quickly as possible.
§ Mr. MorganDoes the hon. and learned Gentleman agree that the fact that for 18 months the Serious Fraud Office has been investigating a south sea bubble affair in the City of London, which occurred almost seven years ago, tends to bring our legal system into disrepute? I am sure that hon. Members on both sides of the House agree that we need to control City fraud. Will the hon. and learned Gentleman assure the House that there is a prospect of the matter coming to some sort of conclusion?
§ The Solicitor-GeneralI can assure the hon. Gentleman of that. The matter did not come to light until comparatively recently. As I said, the inquiry began in 1992. It involves inquiries in many foreign jurisdictions. It is a good example of the special skill and powers required to get to the bottom of cases of that nature. I assure the hon. Gentleman that the matter is being pursued rigorously.