The Metropolitan Police has joined an investigation into Boohoo’s corporate espionage and stalking allegations, marking a significant development in the case.
- Security consultancy Control Risks discovered significant surveillance activities targeting Boohoo executives, prompting wider police involvement.
- Former CEO John Lyttle’s resignation is reportedly linked to these allegations, which include trespassing and physical assault incidents.
- The investigation has revealed the use of unregistered surveillance equipment, adding complexity to the situation.
- Tensions escalate as major shareholder Frasers Group expresses concerns about Boohoo’s leadership amidst the ongoing inquiry.
The unfolding drama within Boohoo concerning accusations of corporate espionage has intensified with the involvement of the Metropolitan Police. The investigation, which originated from findings by the security consultancy firm Control Risks, revealed serious allegations of a ‘campaign of extensive hostile surveillance’ targeting key figures within the company. This includes high-profile executives such as John Lyttle, the former CEO, and Mahmud Kamani, the co-founder.
According to reports, the surveillance activities involved multiple operatives trailing Boohoo executives in public spaces, their homes, and outside the company’s Manchester headquarters. Control Risks uncovered unregistered surveillance equipment at Boohoo’s office, a discovery that has been handed over to authorities, amplifying the gravity of the situation.
John Lyttle’s departure from the company in October, after a five-year tenure as CEO, is reportedly tied to these unsettling events. Incidents of trespassing on his property and physical assault on Kamani have been reported, further heightening the intrigue surrounding this case.
The Metropolitan Police confirmed their investigation of reports of a man being followed across different locations, including London, over several weeks. However, they have not commented on the particulars of the investigation regarding individuals or organisations involved.
Amidst these developments, Boohoo is experiencing internal pressure from its shareholders. The Frasers Group, which owns a substantial 28% stake, has voiced its concerns over a perceived leadership crisis. They have called for key changes at the top levels, including the appointment of Mike Ashley as CEO and inviting restructuring expert Mike Lennon onto the board.
The situation is compounded by the Frasers Group’s demands amidst the ongoing police inquiry. As tensions rise within the retail giant, the outcome of these investigations could have considerable implications for its future direction.
The investigation into Boohoo’s corporate espionage allegations continues to develop, potentially affecting the company’s leadership and shareholder dynamics.
