Vincent Tchenguiz has filed papers in an estimated £2.2bn damages claim at the Commercial Court.
Tchenguiz is suing various parties that he alleges conspired to instigate, or were involved in, the failed investigation by the Serious Fraud Office (SFO) into him, the Consensus Business Group and the Tchenguiz Family Trust.
The claim names the defendants as Grant Thornton UK LLP, and its partners Stephen John Akers and Hossein Hamedani; Kaupthing Bank HF and Icelandic lawyer Johannes Runar Johannsson, who was a member of Kaupthing’s Resolution Committee and is currently a member of its Winding Up Committee.
It is alleged that the three individuals conspired to put Vincent Tchenguiz and the relevant TFT companies under acute commercial and financial pressure to, among other things, settle a £1.6bn Commercial Court claim brought against Kaupthing.
The claim also alleges that they effectively controlled the SFO investigation, which led to search warrants being issued on 7 March 2011 against Vincent Tchenguiz and also led to his arrest.
The claim alleges that Grant Thornton and Kaupthing are liable for their actions.
According to a written statement, Vincent Tchenguiz is seeking substantial damages, estimated at £2.2bn, including aggravated and exemplary damages for claims including conspiracy by unlawful means and malicious prosecution.
Vincent Tchenguiz said: “It is clear to me that the Serious Fraud Office was deliberately manipulated into investigating me by people who intended to cause me harm and were driven by commercial gain and self-interest.
“What has emerged is a scandal of international proportions and a conspiracy that has drawn in both the Icelandic and British governments and which has caused me substantial harm. Now it is time for those responsible to be judged on the full extent of their wrongdoing.”
Hardeep Nahal, partner in McGuireWoods London LLP, who issued the claim, said: “We are very pleased to be issuing this claim, which is key to Vincent Tchenguiz’s efforts to achieve justice in relation to events going back many years that have caused him substantial damage.
“The claim brings into the light extremely serious allegations as to how private parties were able to manipulate regulatory and other procedures to cause damage to Vincent Tchenguiz and his interests and for their own commercial ends. These are issues which should be thoroughly examined through the court process.”
