Tasmania Police is in the process of advising complainants in the Piggott Wood & Baker investigation that there is insufficient evidence to proceed with charges.

Police have for several years been investigating complaints by investors in the former Piggott Wood & Baker mortgage fund alleging criminal conduct in the manner in which the fund was operated.

“The complaints, of stealing and acquiring a financial advantage by deception, were thoroughly investigated, and that investigation revealed breaches of fiduciary duties but no criminal conduct,” said Acting Deputy Commissioner Scott Tilyard.

“The file has been reviewed and there is insufficient evidence for a prosecution,” Mr Tilyard said. “We have written to the complainants to advise them of the outcome. We acknowledge there has been a delay in finalising this investigation and for that, we apologise to the complainants.”

Tasmania Police Media
(03) 6230 2296