POLICE investigating the collapse of a betting syndicate led by spin doctor Alastair Campbell’s son have made an arrest.
About 50 backers of Rory Campbell’s venture were left out of pocket in December — including his own parents, with some said to have lost up to £500,000.
Oxford graduate and football analyst Campbell, 37, started the fund in 2017, promising to beat the bookies with bets on games across Europe including in England’s Premier League and Spain’s La Liga.
His syndicate employed traders using mathematical modelling to place as many as 80 wagers a week.
Early investors were understood to be paid returns with money coming in from newer backers. But cash started to run low.
Campbell vowed everyone would be repaid — then suggested they would get a percentage of their investment returned by the summer.
But investors were still waiting weeks later and called in police.
Now a man from North London has been arrested on suspicion of running a £5million Ponzi-style pyramid scheme.
A dossier compiled by about 20 investors has been handed to police.
It is said to include contracts, bank statements, spreadsheets and emails stating that the fund was profitable.
One investor is believed to have died of cancer while chasing his missing fortune.
Another started a separate £266,000 county court action but is understood to have settled for a lot less than that.
Last night, police confirmed a man had been arrested on suspicion of fraud by false representation relating to a betting syndicate.
He has been bailed pending inquiries, but cannot be named for legal reasons.
