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Police to review Wonga criminal probe
4:53pm Friday 27th June 2014 in News
POLICE are to look again at whether payday lender Wonga, which sponsors Newcastle United, should be subject to a criminal investigation after it sent fake legal letters to pressure customers in arrears into paying up.
City of London Police discussed the case a year ago but it was previously decided that it should be left to regulators so the 45,000 consumers affected would not be delayed in receiving their compensation.
But it said that now that the Financial Conduct Authority's investigations have concluded and a compensation agreement has been reached, it will "be reassessing whether a criminal investigation is now appropriate".
Earlier this week, Wonga said it had agreed with the regulator to pay £2.6 million in compensation for the letters it sent from non-existent law firms.