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Igroup investigates Panorama claims

Sub-prime lender igroup is understood to have called in top accountants PricewaterhouseCoopers to investigate allegations made against it in a BBC Panorama documentary last Sunday.

The company came under scrutiny from the BBC&#39s current affairs programme for its business links with broker The Mortgage Group, formerly known as Capital Credit.

The programme alleged that The Mortgage Group was breaching Office of Fair Trading rules by cold-calling customers in arrears and offering them deals with igroup.

An employee from The Mortgage Group was secretly filmed claiming that details of debt-ridden borrowers were obtained from building societies looking to clear clients from their mortgage books.

A worker from the training department was also caught on camera explaining to a recruit that, while The Mortgage Group was technically independent, “99 per cent of the business we do goes to igroup”.

Auditors from PriceWaterHouseCoopers are understood to have already visited The Mortgage Group&#39s Cornwall base to investigate the accusations.

igroup head of corporate communications Tony Yorke said: “Although we cannot at this stage comment specifically about the allegations that were levelled, we can confirm we have launched an investigation into the business practices of igroup.”

The Mortgage Group finance director Andrew Sinclair says: “We have regular reviews by lenders. We are happy for anyone to do a review of our business.”

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