No one should be surprised that the Serious Fraud Office (SFO) has dropped its investigations into the major property scams visited upon Liverpool. For many years, “Private Eye” has ridiculed this agency, describing it as the “Serious Farce Office” because of its repeated failures in dealing with major fraud cases. The reason given in the case of Liverpool – that there was insufficient evidence – strikes seasoned observers as absurd. However, what is done is done. We now must look to Merseyside Police for action. The prognosis is not good.

Local police are pursuing Operation Aloft, looking at corruption in the city council. Whether that will stretch to covering frauds which have primarily fleeced investors and contractors remains to be seen. After all, the original arrests under Operation Aloft involved Joe Anderson and a range of senior council officers none of whom have, to date, been prosecuted, never mind convicted…