The Serious Fraud Office (SFO) has launched a criminal investigation into mining giant Eurasian Natural Resources Corporation (ENRC), amid reports that its former law firm Dechert uncovered evidence of wrongdoing during an internal probe into corruption allegations at the FTSE 100 company.

Dechert, which was removed as lead counsel on the investigation earlier this month, has reportedly sent an eight-page letter to ENRC detailing claims of payments to African presidents, misappropriated cash and document destruction at the mining company, according to a report in The Sunday Times. ENRC denies the allegations.

Fulcrum Chambers is now acting as lead counsel to the company on the investigation, which is looking into allegations of fraud, bribery and corruption in Kazakhstan and Africa.

Debevoise & Plimpton has also been appointed to advise ENRC, with the firm's European and Asian litigation chair Lord Goldsmith and London partner Karolos Seeger leading the team.

In a statement last Thursday (25 April), SFO director David Green QC said the prosecutor had launched a formal investigation into the activities of the company.

"The ENRC confirms that it is assisting and cooperating fully with the SFO," the company said in a response. "ENRC is committed to a full and transparent investigation of its procedures and conduct."

Dechert's team advising ENRC had been led by the firm's London-based deputy chair of global litigation, Neil Gerrard. Gerrard (pictured), who joined the US firm from DLA Piper in 2011, began the work at his former firm, and took the mandate with him on his move to Dechert. Dechert declined to comment.

In a statement, ENRC said: "As part of ENRC's continuing process to achieve the highest standards of corporate governance and transparency, ENRC can confirm it has retained Fulcrum Chambers as lead counsel overseeing the Group's liaison with the SFO. Dechert no longer advises the company. ENRC remains committed to a full and transparent investigation of its procedures and conduct."

Other law firms to have worked with ENRC in the past include Jones Day, which took the lead role for the company on a dispute over a copper mine in the Democratic Republic of Congo (DRC).

The dispute saw ENRC pay a $750m (£629m) cash settlement to Canadian mining company First Quantum, with a further $500m (£419m) deferred in the form of a three-year promissory note. The mine had been seized from First Quantum by the DRC Government in 2009, before ENRC subsequently purchased a majority stake in the mine in 2010, prompting its former owner to launch litigation proceedings.

ENRC's current general counsel Beat Ehrensberger took over when company secretary and general counsel Randal Barker resigned in June 2011.

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