Former owners of collapsed Southport investment group 79th Group seek Judicial Review of City of London Police’s handling of the investigation. Tony McDonough reports

Former owners of collapsed Southport investment group 79th Group are seeking a Judicial Review into police conduct in the investigation into alleged fraud.

In February 2025 the City of London Police carried out raids as part of an investigation into the business which raised funds from investors to put into real estate, wealth and aviation projects as well as mining operations in countries such as Canada and Guinea.

During the raids a “large amount” of cash, luxury watches and jewellery were seized. Four people were arrested and released on bail. All four maintain their innocence and no charges have been brought. The investigation, called Operation Mold, is ongoing.

Now LBN understands 79th Group’s former owners have served the Commissioner of the City of London Police and Southwark Crown Court as they seek a Judicial Review in the High Court.

They are challenging aspects of the City of London Police’s handling of the case. A Judicial Review allows the High Court to examine whether a public body has acted lawfully, followed proper procedure and exercised its powers correctly.

The company was placed into administration on April 24, 2025. The administrators are Kroll and Quantuma who continue to analyse the group’s structure, the movement of funds and the wider network of companies within the business.

A Judicial Review runs alongside these processes and does not alter the administrators’ remit or the criminal inquiry unless the court identifies procedural issues.