Nottingham Fraud Scandal: Two Arrested Over Ponzi Scheme
Nottinghamshire Police are investigating a serious Ponzi scam after a flood of calls last week raised alarm bells.
What is a Ponzi Scam?
Ponzi schemes are deadly “get rich quick” cons. Fraudsters entice victims to invest huge sums, then pocket the cash, leaving investors penniless.
Two Arrested in Major Fraud Probe
On Friday, 24 March, police arrested a 30-year-old woman on suspicion of fraud by false representation. A 58-year-old man was also detained the same day for allegedly possessing fraudulent tools. Both suspects are Nottingham locals and have since been released on bail as the probe continues.
Police Urge Victims to Speak Out
Detective Inspector Ashley Xavier said: “We have launched an investigation into an alleged Ponzi investment scam with multiple victims nationwide reporting losses of varying amounts.
“Our Fraud Team is actively working on the case. Anyone who has lost money to this scam should report it immediately by calling 101 or Action Fraud at 0300 123 2040.”
