It seems he wants us all to believe that he is blameless with regard to the collapse of BHS and the plight of the firm’s pension fund – never mind the number of yachts he owns.
And he wants to keep his knighthood.
Perhaps he’s worried that any revelation of the facts will leave him without a deck to stand on – or a sword to fall on.
The Serious Fraud Office has narrowed the scope of its inquiry into the collapse of BHS, ratcheting up the pressure on Sir Philip Green as he faces fresh scrutiny over the pension schemes across his Arcadia empire.
The Telegraph can disclose that investigators are focusing initial inquiries on whether there is sufficient evidence that Sir Philip or Dominic Chappell, who bought the chain from him, broke the law through “fraud by misrepresentation”.
It is understood that the Serious Fraud Office (SFO) is scrutinising the complex web of financial dealings that led to Mr Chappell being perceived as a suitable buyer for the 88-year-old retailer. On the basis of their inquiry, the SFO will make a decision as to whether to proceed to a formal investigation.
The inquiry places further pressure on the billionaire amid fears that the deficit of the retirement schemes in his Arcadia empire has ballooned in recent months following a fall in gilt yields. Separately, it is understood that the Pensions Regulator has widened its anti-avoidance investigation into Sir Philip’s ownership of BHS back to 2000, when he bought it for £200m.
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