Home REIT provided supported housing in self-contained flats and houses of multiple occupancy.
In a 2021 report, external, the organisation said it worked with 17 not-for-profit housing partners and provided accommodation to more than 3,000 people.
In November 2022, an investor report into Home REIT raised multiple concerns about the company including the valuation of its properties and the ability of its tenants to pay rent, the SFO said.
Solicitor General Ellie Reeves said: “Vulnerable people, including rough sleepers and veterans, were promised homes, while investors who funded millions of pounds were promised returns. Both groups deserve answers.”
Five men and one woman aged between 40 and 80 were arrested on suspicion of fraud and bribery offences, the SFO said.
Emma Luxton, the SFO’s director of operations, said: “This company had a meteoric rise, spending millions on properties that were supposed to house the most vulnerable in society and provide returns for investors.
“Its chaotic downfall has left many with unanswered questions.”
