No inquiry into Wonga letters criminal

Wonga 'putting things right'
Wonga 'putting things right'

Police have ruled out a criminal investigation into payday lender Wonga over the scandal in which it chased customers with fake legal letters to pressure them into paying up.

City of London Police said that, after a “thorough review”, it has concluded “there is not sufficient evidence to progress a criminal investigation”.

Last June, Wonga agreed with the Financial Conduct Authority (FCA) to pay £2.6 million in compensation for the letters it sent to 45,000 consumers from non-existent law firms.

It has also emerged that thousands of people who are in line for a payout are yet to receive their compensation offer from Wonga.

About three-quarters of the 45,000 people impacted have received their compensation offers so far and the company expects that the remaining quarter will have received their offers by April this year.

A spokesman said the focus remained on “putting things right” for customers affected by the issue.”

After the compensation announcement was made last summer, the City of London Police confirmed that it would reassess whether Wonga should be subject to a criminal investigation.