The Serious Fraud Office is reported to be investigating two of the companies behind the ill-fated A1 Grand Prix series.

The Serious Fraud Office is reported to be investigating two of the companies behind the ill-fated A1 Grand Prix series.

It is understood that both A1 Grand Prix Operations - which is in administration with debts of £100m - and A1 Holdings - which is in compulsory liquidation with creditors claiming more than £300m - are under investigation.

Both companies are linked to Tony Teixeira who, despite A1's descent into farce and failure, continued to be linked to a buy-out of a number of F1 teams including Honda, Force India and Campos."