Overview
- The Metropolitan Police confirmed an arrest on suspicion of fraud by false representation relating to the collapsed football-betting syndicate.
- More than 50 backers reported losses after the fund went bust in December, including Alastair Campbell and Fiona Millar.
- Investments reportedly ranged from about £10,000 to £500,000, with the fund estimated at up to roughly £8 million.
- Launched in 2017, the syndicate used predictive models and traders to place up to 80 weekly bets, with later failures attributed to alleged non-payment by Asian bookmakers.
- After talks broke down in January, investors filed an Action Fraud report and handed police a dossier; one investor died while seeking repayment and another settled a county court claim for less than the sum sought.