SWEET & MAXWELL, the legal publisher owned by Thomson Corporation, is expected to confirm that it has been raided by the Serious Fraud Office (SFO) over a £1 million suspected accounting fraud.

The SFO and the City of London Police conducted dawn raids at Sweet & Maxwell’s offices in northwest London and it is believed the homes of an unspecified number of its directors early on Thursday morning. A statement by the company is expected as early as this morning.

The SFO and the police have not made any arrests or charged anyone in connection with the investigation, the details of which are revealed today in Finance Week, the specialist newspaper. An SFO spokesman confirmed a criminal investigation is continuing.

An spokesman for the SFO said: “There is an investigation under way by the SFO and the City of London Police. There were a number of searches carried out in London and the South East of England on Thursday January 20. The searches were carried out on business premises and some domestic residences.”

Neither the SFO nor Sweet & Maxwell would give details on whether directors’ homes were raided or if any raids were carried out on the homes of non-executive directors.

Sweet & Maxwell publishes a number of texts on legal and regulatory subjects, including books on commercial fraud, as well as the Financial Services Authority’s online handbook.

Times Recommends

• Minister in talks with Saudis to protect creditors
• Premier Inn hits back in £29-a-room row
• Bankers hit back at 'populist' bonus supertax