Gurkha in­vestors ‘may have fallen vic­tim to £50m scam’

Kentish Express Ashford & District - - Helping Others -

Hun­dreds of Gurkhas and mem­bers of the Nepalese com­mu­nity could have been vic­tims of a £50 mil­lion scam.

Fraud in­ves­ti­ga­tors are now hop­ing mem­bers of the com­mu­nity will come for­ward if they have in­vested in the scheme.

The ap­peal comes from City of Lon­don Po­lice, the na­tional polic­ing lead for fraud, and The Gurkha Wel­fare Trust af­ter an in­ves­ti­ga­tion was launched in Oc­to­ber 2014.

Po­lice have been in­ves­ti­gat­ing CWM’s (Cap­i­tal World Mar­ket) man­aged fund that of­fered re­turns of 5% in­ter­est per month.

Vic­tims put their money into th­ese schemes which are ad­ver­tised as “get rich quick in­vest­ment scams” but the fraud­sters then siphon off the money for them­selves.

Po­lice think the ma­jor­ity of po­ten­tial vic­tims come from the Gurkha and Nepalese com­mu­ni­ties.

Det Ch Insp Dave Man­ley, from the City of Lon­don Po­lice, said: “The ev­i­dence sug­gests that rep­re­sen­ta­tives of CWM tar­geted hun­dreds of mem­bers of the Gurkha and Nepalese com­mu­nity and then ex­ploited them in or­der to de­fraud mil­lions of pounds.

“The in­ves­ti­ga­tion is pro­gress­ing well and my con­cern now is that the voices of the ma­jor­ity of vic­tims will not be heard in the ju­di­cial process if they do not come for­ward very soon. They are also miss­ing out on re­ceiv­ing the fi­nan­cial ad­vice and psy­cho- log­i­cal sup­port that is avail­able to them at what will be a very dif­fi­cult time.”

Nine months ago po­lice ar­rested 10 men and three women from the City-based for­eign ex­change trad­ing com­pany on sus­pi­cion of fraud by false rep­re­sen­ta­tion and money laun­der­ing.

All 13 have been re­leased on bail af­ter com­put­ers and doc­u­ments were seized by de­tec­tives at the com­pany’s of­fices in Heron Tower in the Square Mile.

If you or any­one you know sus­pect they might have been a vic­tim of this fraud call the in­ves­ti­ga­tion team on 020 7601 6830, call Ac­tion Fraud on 0300 123 2040 or email op­van­burgh@ci­ty­oflon­don.pnn.po­lice.uk

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