The Nottinghamshire Police recently launched a criminal investigation into a Ponzi-style investment scam. Named after the late fraudster Charles Ponzi who conducted such schemes between 1919 and 1920, Ponzi is a form of financial fraud. It is based on victims believing in the success of a company that does not exist and uses greed as a lure. Quick returns are issued to the early first round of investors from the money invested by those who invest later to make the scheme appear legitimate.
A woman (30) and a man (58) from the city of Nottingham have now been arrested by members of the constabulary as part of its inquiry into the Ponzi investment scam.
UK consumers who are wary of offers for quick return investments often seek professional financial advice in Shropshire, Hampshire and other affluent parts of the country targeted by fraudsters. Wealth managers are independent financial advisors who can study investment opportunities and determine if they are genuine.
A spokesperson for Nottinghamshire Police commented that officers had received several calls regarding an alleged fraud which callers called a “get-rich-quick scheme”.
Detective Inspector Ashley Xavier commented:
“We have launched an investigation into an alleged Ponzi investment scam whereby multiple victims nationwide have reported losing varying sums of money.
Nottinghamshire Police added that the woman arrested was held on suspicion of committing fraud by false representation. The man was detained on the suspicion of holding an article used in fraud. The fraud team of the police force are continuing their investigation.
