SFO announces investigation into suspected telecoms company fraud

The SFO is investigating suspected fraud and money laundering at telecoms firm IMC, alongside a parallel US investigation.

The Serious Fraud Office (SFO) has today announced its investigation into Internet Mobile Communications Limited (IMC), a collapsed UK technology company that ran an international platform selling telecom services for over 12 years from its base in Chelmsford, Essex.  

At its peak, IMC operated around the world, processing millions of internet telephone minutes and SMS transactions annually, presenting itself as one of the largest virtual telecommunications marketplaces of its kind. The company abruptly collapsed in 2024, leaving its creditors in debt.  

This sophisticated investigation concerns allegations of suspected fraud, false accounting, and money laundering. For operational reasons, this activity has been kept covert until now. 

Earlier this month, the SFO conducted an interview under caution of a man in his sixties as part of its ongoing investigation.  

The SFO is working alongside the District Attorney’s Office of New York, which is conducting a parallel investigation.  

District Attorney Alvin Bragg and Director of the Serious Fraud Office Graham McNulty

Graham McNulty QPM, Director of the Serious Fraud Office, said:

Serious financial crime does not stop at borders, and neither do we. The SFO works closely with our international partners to ensure there are no safe havens for those suspected of fraud. Our investigation into these allegations will be thorough, independent and evidence-led.