Midlands firm Challinors has set its sights on breaking through the £20m turnover barrier, ­setting an ambitious revenue growth target of 75 per cent by the end of the 2009-10 financial year.

The firm expects to post a revenue of £13m by the end of the current year, with a booming fraud and white-collar ;crime ;practice ­expected to contribute to
the growth.

Partner Arun Chauhan and associate Mark Kenkre are leading the fraud team, with the latter saying: “Sadly, fraud is a growing problem brought to light by the ;current ;economic downturn.”

He added that fraud in the Midlands is set to top £380m, representing a threefold increase from 2007.

Last year Challinors made its first move into the East Midlands with the launch of an office in Nottingham.