GFX Capital fund manager arrested for £40 million fraud

David Benyon
13 Feb 2009

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

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.

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You are currently on corporate access.