PracticeAccounting FirmsPolice clear Wessex Water chief in probe

Police clear Wessex Water chief in probe

Colin Skellett, the chairman of Wessex Water - formerly an Enron subsidiary - has been cleared of any wrongdoing in connection with the sale of the company to Malaysian group YTL.

Link: Wessex chief denies bribery allegations

Yesterday police said the Crown Prosecution Service and the Fraud Squad were satisfied that no criminal offence had been committed in relation to a £1m payment Skellett received from YTL.

At the time of his arrest – in August last year – Skellett admitted he received the money but said it was for consultancy services and has vehemently protested his innocence from the outset.

Skellett put down the incident to confusion over a subsequent agreement with YTL, which explains the financial transaction for retaining his services over the next five years. A copy of the agreement was given to the police

Skellett, said: ‘Clearly the police have now confirmed what I said from the start, that I had no influence on the selection of YTL as the successful bidder for Wessex Water. I am just amazed it took them so long.

‘I am delighted that the matter is now at an end.’

Wessex Water said it ‘welcomed’ the decision to drop the investigation.

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