A former adviser has been arrested and bailed by Cheshire Police on suspicion of fraud and theft.
Geoffrey Fincher, the former sole director of Cheshire-based investment advice firm SK8, was arrested on suspicion of obtaining property by deception, theft and fraud by false representation.
A spokeswoman for Cheshire Police says: “Cheshire Police’s economic crime unit are investigating allegations of fraud and theft following complaints made earlier this year.
“As part of the enquiries a 71-year-old man from Wilmslow was arrested on suspicion of obtaining property by deception, theft and fraud by false representation. He has since been bailed pending ongoing enquiries.”
In a supervisory notice published yesterday, the FCA removed SK8’s permission to advise on and arrange deals in investments.