Cayman Islands authorities involved with CWM FX probe into suspected Ponzi scheme

Alys Key
Follow Alys
Grand Cayman, Cayman Islands
The investigation has now expanded to the Cayman Islands (Source: Getty)

An investigation into a suspected Ponzi scheme run from the heart of the Square Mile has extended its reach to the Cayman Islands.

The City of London Police today/yesterday confirmed they have been working with the Cayman authorities on a probe into CWM FX, a company that was based in Heron Tower.

Read more: Chelsea FC dumps City firm at centre of police fraud raid

The Cayman Islands Police Financial Crime Unit said in June that it had questioned local resident Jazeb Jones in connection with the case.

The probe into CWM FX, which dates back to 2014, concerns an investment scheme run by the company. The firm's offices were raided in 2015, resulting in the arrests of 13 people.

Last year the City of London Police called for Gurkha soldiers and other members of the Nepalese community, who are alleged to have been targeted by the scheme, to come forward if they had invested. Police said the scheme may have been worth around £50m.

Read more: The colourful world of Chelsea FC’s forex partner

Related articles