New Chelsea FC sponsor CWM FX has offices raided by fraud squad, 15 workers arrested
Forex trading firm CWM FX had its London offices raided by the police’s fraud squad today, resulting in at least 15 employees being arrested.
City of London police confirmed that 15 workers – including at least three women – were arrested on suspicion of fraud by false representation, conspiracy to defraud, and money laundering.
CWM FX has been on a marketing drive this year, and in January signed a deal with Chelsea FC to become an official partner of the west London Premier League club.
The raid began this morning at offices on Bishopsgate, and ran for several hours into the afternoon. It is a police-led operation, yet has been supported by the Financial Conduct Authority – the City watchdog.
A witness in the building said they had seen staff being escorted into the corridor by the police, and that sniffer dogs had been used on the premises.
CWM FX did not return requests for comment when contacted by City A.M.