GFX Capital fund manager arrested for £40 million fraud

Daily news headlines

A London investment manager has been detained by financial crime police

LONDON - Police from the City of London's Economic Crime Department have arrested a man in connection with a fraud surrounding defunct hedge fund GFX Capital Markets. Investment fund manager Terry Freeman was arrested on February 9 on suspicion of money laundering and offences in violation of the Financial Services and Markets Act.

Police said they were looking at a "substantial" fraud at GFX, which ceased trading in January, but declined to comment further. It has been reported elsewhere that up to £40 million of investors' money is involved. Some investors have reportedly lost six-figure sums.

Sixty-year-old Freeman is believed to have specialised in foreign exchange trading and was described as a "quiet neighbour" until police stormed his house in Buckhurst Hill in Essex, on the outskirts of London. Police are still gathering information from GFX investors.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here