Tchenguiz threatens to sue fraud office

Billionaire property magnate Robert Tchenguiz has threatened to sue fraud investigators for arresting him as part of their inquiry into failed Icelandic bank Kaupthing.

Tchenguiz accused the Serious Fraud Office of ignoring his offers to co-operate before he and his brother Vincent Tchenguiz were questioned last week while police swooped on their multimillion-pound London headquarters.

Meanwhile, Peverel - the Tchenguiz brothers' debt-laden property management company - has been placed into administration.