CWM Managed Fund Offering 5% Monthly at the Center of Investigation

A couple of weeks after the CWM debacle began, the City of London Police issued an official announcement outlining that a number of members from the UK Gurkha and Nepalese communities could be majorly impacted by a fraudulent scheme.

Authorities have been investigating a CWM (Capital World Market) managed fund which is offering a whopping return totaling 5 percent per month. The City of London Police has sent out letters asking members of the Gurkha and Nepalese communities to get in touch with information if they have been solicited into investing in the above-mentioned managed fund.

The detectives working on the case have uncovered the names of the investors whilst working on the CWM case which unfolded earlier this year in March. In the opinion of the police, the investors in the managed fund have most likely fallen victims of a major investment scheme.

While only 60 letters have been sent out so far, the real figure could turn out to be much bigger as authorities believe that hundreds of members of the Gurkha and Nepalese communities could have been affected.

Detectives from the City of London Police will be conducting briefings at military bases aiming to identify Gurkha servicemen and convince them to admit to have invested money in the CWM 5% scheme.

Back in March, the City of London Police raided the offices of CWM at the Heron Tower and arrested ten men and three women, who at the time worked at the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term brokerage arm of CWM.

The arrests were made on suspicion of fraud by false representation and Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term, backed up with material evidence consisting of computers and documents. All suspects have been released after questioning until September.

Commenting on the announcement, the City of London Police Detective Chief Inspector David Manley said, “We are now very keen to hear from members of the Gurkha and Nepalese community who have put money into CWM’s managed fund that was offering a 5% return per month. Anyone who gets in contact will be dealt with sensitively and the information they share will be handled in complete confidence.”