LONDON (Reuters) - Police on Thursday said they had arrested two men as part of an investigation into a suspected 50 million pound fund management fraud.
The men, aged 40 and 43, are suspected of conspiracy to defraud, money laundering, and fraud by misrepresentation, the City of London Police said.
The investigation is linked to three UK-based financial consultancies whose operations were frozen by the Financial Services Authority last year, it added.
"We are working in partnership with the FSA to tackle this complex investment fraud that involves hundreds of victims and losses suspected to run into tens of millions of pounds," Detective Inspector David Manley of the City of London police said in a statement.
(Reporting by Myles Neligan)