Nottingham Police Crack Down on Ponzi Scam
Nottinghamshire Police were bombarded with calls last week about a suspected Ponzi scheme ripping off investors.
What’s a Ponzi Scam?
Ponzi scams promise quick riches. Fraudsters lure victims to invest big sums, only to steal the cash for themselves.
Two Arrested in Fraud Probe
- A 30-year-old woman was arrested on Friday (24 Jan) for fraud by false representation.
- A 58-year-old man was also arrested the same day for possessing fraudulent items.
Both suspects, from Nottingham, have been bailed as investigations continue.
Police Urge Scam Victims to Speak Up
“We’ve launched an investigation into a Ponzi investment scam affecting victims across the UK,” said Detective Inspector Ashley Xavier. “Our Fraud Team is working hard on this case.” “Anyone who’s lost money to a scam should report it immediately by calling 101 or Action Fraud on 0300 123 2040.”
