Detectives probing the collapse of a betting syndicate led by spin doctor Alastair Campbell’s son have arrested a 37-year-old man in north London, the Metropolitan Police said.
Rory Campbell launched the fund in 2017, vowing to beat the bookies with bets on games around Europe, including in England’s Premier League and Spain’s La Liga.
But approximately 50 backers of the Oxford graduate and football analyst’s venture were left out of pocket in December - including his own parents, The Sun said.
Some were said to have lost up to £500,000 from their involvement in the failed fund.
One of the investors reportedly died before receiving his money back.
Campbell’s father and mother Fiona Millar were reported to be facing losses running into hundreds of thousands of pounds relating to the alleged £5 million Ponzi-style pyramid scheme.
Scotland Yard told the Standard: “At 07.45am on Tuesday, September 9, officers executed a warrant at an address in Camden.
“A 37-year-old man was arrested on suspicion of fraud by false representation relating to a betting syndicate. He has since been bailed pending further enquiries.”
He cannot be named for legal reasons.
