FlyGlobespan credit firm 'to be probed'

THE credit card company linked to the collapse of the budget airline FlyGlobespan could be investigated by the Serious Fraud Office.

Investigators are reportedly considering a probe into E-Clear, which went into administration last month.

FlyGlobespan was grounded in December, leaving 4,500 passengers stranded overseas and putting 600 staff out of work.

The fraud allegations are understood to centre on the whereabouts of 80 million owed by E-Clear to the airline's parent company Globespan and others, as well as misleading information supposedly provided to creditors.

The SFO is understood to have been contacted about E-Clear by a member of the public two days after Globespanwent bust.