Met Police Fraud Alert site

The Metropolitan Police has a Fraud Alert site that highlights their Sterling initiative:

'Sterling is the Metropolitan Police initiative to tackle Economic Crime throughout London. By working together with individuals and organisations, from all levels of the private and public sectors, Sterling aims to make London safer from all types of Economic Crime. Innovative new techniques are being developed to prevent, disrupt, and prosecute fraud related offences.'

http://www.met.police.uk/fraudalert/index.htm

Also on the site is a recent advice about high yield investments:

'The MPS would give the following advice to anyone offered high yield investment opportunities in products that are not tangible:

Beware anyone cold calling offering investment opportunities

Before deciding to invest in a particular product check with an established company or other suitably qualified person for advice. (For example if you are investing in wine contact a reputable wine merchant.)

Be prepared to make extensive enquiries into the source of the product to establish its credibility as an investment.

If a high return is promised it should be viewed with suspicion particularly in the current economic climate.

If the investment is one where the product will be kept for you either elsewhere in the world or in the UK you should always be able to request to see the product at any time.

If it sounds to good to be true it probably is.'

http://www.met.police.uk/fraudalert/news/high_yield_advice.htm

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Interesting that they highlight wine contracts.

Ties in with the advice given at the time of the further Nouveau World Wine arrests:

Detective Chief Inspector Robin Cross, head of the Fraud Squad, said: "This kind of investment fraud is becoming far too common. People from all economic backgrounds are being targeted and persuaded to invest in what appears to be a sound financial opportunity.

"We would advise those considering investing money, whether it be a small or large amount, to do their research and be sure that the companies or individuals they are dealing with are reputable and legitimate."

 

Two more arrests in investment fraud investigation

Press release from Metropolitan Police (London) Latest from New Scotland Yard at 14.36 on Friday 9th April

'A further two people have been arrested in connection with an alleged £3million wine investment fraud.

Officers from the MPS Fraud Squad carried out raids at two business premises in east London last month, 4 March, and arrested six people on suspicion of money laundering.

Since then, a [G] 40-year old woman attended a central London police station on the 16 March and a [H] 53-year-old man attended a central London police station on the 29 March. Both were arrested on suspicion of money laundering and have been bailed to return in October.

The eight arrests, part of Operation Iceman, followed searches at two business premises and a number of residential addresses in the Docklands area and in Sidcup and Bexley.

Police believe that victims of the alleged fraud were persuaded to invest large amounts of money in specialist wines from Australia that did not actually exist. Those targeted were told that Australian wines can be 'laid down' and increase in value with age and that this scheme was a solid investment to put their savings into.

The six arrested on the 4 March were: Two women aged [A] 28 and [B] 32 and four men aged [C] 40, [D] 65, [E] 30 and [F] 34. They were arrested on suspicion of money laundering offences, and were taken to an east London police station.

They were later bailed to return pending further inquiries. They are next due in October.

The investigation remains active and inquiries continue.

Detective Chief Inspector Robin Cross, head of the Fraud Squad, said: "This kind of investment fraud is becoming far too common. People from all economic backgrounds are being targeted and persuaded to invest in what appears to be a sound financial opportunity.

"We would advise those considering investing money, whether it be a small or large amount, to do their research and be sure that the companies or individuals they are dealing with are reputable and legitimate."

For further advice please visit the MPS Fraud Alert website at: http://www.met.police.uk/fraudalert/'

investdrinks understands that this investigation is also looking at Finbow Fine Wines Ltd and up to 20 drinks investment companies.