Fraud Inquiry At Pioneering Biotech Firm Merlin Biosciences

The Serious Fraud Office is investigating allegations that a large sum of money has been misappropriated from Merlin Biosciences, the biotechnology investment fund run by the high-profile entrepreneur Sir Christopher Evans. It is understood that a senior former employee, who left Merlin in acrimonious circumstances, has made claims to the SFO that about £2.5m was diverted from company funds, prompting raids at premises associated with the company. Rumours about the allegations have swept the bioscience industry and are likely to embarrass Sir Christopher, a Labour donor who has advised the government on science strategy and has most recently been involved in setting up a charitable foundation to boost stem cell research in this country. His wealth is put at £148m, based on his previous share sales and the value of assets he owns. The SFO does not normally get involved in fraud investigations if the amounts concerned are less than £1m or if the case is not a matter of public interest.

Back to news