The former broker is alleged to be a ringleader in an insider dealer spread-betting scam. The alleged ring was cracked by staff at IG Index, the spread betting firm, who became suspicious when they were forced to pay out to a group of people who appeared to be consistently beating the odds.
The Times reports that investment bank CSFB has confirmed that the Fraud Squad has arrested one of its former employees, a broker, who left the company earlier in the year.
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