After recent claims that CWMFX’s parent group is linked to a massive Ponzi scheme, a new development today seems to confirm the allegations that the arrests at Heron Tower were indeed connected to the firm.
City of London Police are now urging anyone who has invested in CWM’s (Capital World Markets) managed funds offering 5% interest per month to get in contact with investigators.
The police reports that on March 3rd 2015 ten men and three women, all of whom work for the “City-based foreign exchange trading company,” were arrested at the Heron Tower in Bishopsgate on suspicion of fraud by false representation, conspiracy to defraud and money laundering.
Detectives, supported by the Financial Conduct Authority, also seized a host of computers and documentary evidence. The thirteen suspects were questioned and then released on bail until September, the London City Police confirms.
Previously, the broker’s lawyer, Charlotte Harris of Kingsley Napley LLP, commented to Forex Magnates: “We can confirm our client’s offices were not raided by the police yesterday, and that there is no investigation into CWM FX.”
Update: a spokesperson for the company has officially responded to the City of London Police investigation news by issuing a statement to Forex Magnates.
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Forex Magnates contacted Chelsea with the new revelations but the club declined to comment.
Detective Superintendent Maria Woodall, who is overseeing the investigation for the City of London Police, said today:
“The primary objective of the arrest phase of this investigation was to stop what we believe was ongoing criminality and prevent people putting their money into CWM’s managed funds offering 5% interest per month.
Now we need anyone who thinks they have invested in this specific enterprise to get in contact and help us clarify exactly how this company has been using the funds given to them in good faith by citizens living in both the UK and abroad.”
The City of London Police are the National Policing Lead for Fraud, taking on many of the UK’s most complex, sensitive and high-profile economic crime investigations. It is also a key component of the Government’s national and international response to fraud, hosting Action Fraud, the National Fraud Intelligence Bureau and specialist police units focusing on the disruption and prevention of major crime types such as insurance fraud and intellectual property crime.
The investigation team can be reached at 020 7601 6830. Alternatively investors can report to Action Fraud at 0300 123 2040 or at www.actionfraud.police.uk