Law firm taken on to investigate Lawrence Jones allegations

Cloud hosting firm UKFast has taken on law firm Squire Patton Boggs to carry out an independent investigation into the alleged sexual misconduct of its chief executive Lawrence Jones.

The co-founder of the firm has stepped down while an investigation into his behaviour is carried out.

The Manchester firm sent an email to staff this week about the ongoing investigation.

Staff have been told they can talk anonymously to the investigations team, which includes two human resources consultants.

Lawrence Jones set up UKFast with his wife Gail and it is one of the fastest growing businesses in the city.

However, Mr Jones has been forced to defend his reputation after a series of allegations appeared in the Financial Times.

Mr Jones, who has an estimated personal fortune of £700m has categorically denied all the allegations.

A an independent committee has been set up to carry out the investigation.

The committee includes chief financial officer, Catherine Greening, and Irina Hemmers, an external board member from Inflexion, the private equity firm who has a 30 per cent stake in UK Fast.

Gail Jones is running the company while her husband has taken a leave of absence.

Mr Jones previously said of the allegations: “A number of false and malicious allegations have been made against me and I am absolutely determined to ensure that they are fully investigated so that my name can be cleared.

“The interests of the employees, clients and investors in the business are paramount and much more important than any one individual. In the meantime, I am confident that the business will continue to grow and prosper.”