Serious Fraud Office poised to make ‘Ponzi scheme’ arrest

Serious Fraud Office poised to make ‘Ponzi scheme’ arrest

By Paul McBeth

Dec. 8 (BusinessDesk) – The Serious Fraud Office is to lay charges against an individual in a multi-million dollar fraud case tomorrow, the director told MPs at a select committee today.

“We will be making an arrest tomorrow relating to tens of millions of dollars in investor losses,” Adam Feeley, director of the Serious Fraud Office, said at the law and order select committee.

The investigation was sparked by a call from the registrar of companies, he said. He described the type of fraud as a Ponzi scheme.

(BusinessDesk)

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