The Serious Fraud Office has announced that it has opened an investigation into individuals associated with London Capital & Finance, and that four individuals were arrested in the Kent and Sussex areas on 4 March 2019. All four were subsequently released pending further investigation.
The SFO has not released the individuals’ names and will make no further comment at this time.
London Capital & Finance is (despite its name) based in Tunbridge Wells, Kent.
London Capital & Finance’s principal marketing agent, Surge Financial, is based in Brighton, Sussex. The SFO has not named Surge as a target in its investigation. Update 18.3.19: A Surge spokesman has told the Evening Standard that nobody from Surge has received “any contact whatsoever”.
The SFO wants to speak to anyone who invested in LCF between 1 June 2016 and 31 December 2018. They can be contacted via this online form.
The investigation into LCF has been codenamed “Operation Axite” (which despite sounding a bit like a mineral is a made-up word).