Man arrested and bailed by police in connection with collapsed betting syndicate operated by Rory Campbell

A man has been arrested by police in connection with a collapsed betting syndicate operated by Rory Campbell.

Reports emerged last year that 50 investors, including Campbell’s father – Sir Tony Blair’s former director of communications Alastair Campbell – had lost their money after a fund used to place bets on football had gone bust.

It is estimated that the fund was worth as much as £8 million, with bets focusing on Asian handicaps or under/over goal markets, but troubles emerged 18 months before it failed when investors experienced difficulties withdrawing their money.

Campbell had allegedly blamed non-payment by bookmakers based in Asia as the reason for the syndicate’s problems. Investors, whose contributions varied from £10,000 to £500,000 in funding, reported the collapse to Action Fraud in January after negotiations with Campbell broke down. 

That same month, the Racing Post was told by one investor involved that "if we got 20p in the pound, I think most of us would be surprised".

The fund had used predictive modelling to spot favourable odds on football matches to exploit, with investors told in 2023 that the organisation, which had grown through word of mouth, had made an average return on investment of eight per cent a year.

However, one investor who had been a senior figure in horseracing experienced difficulties getting his money having asked for a return in 2023, while another investor settled out of court this year after pursuing a private prosecution, according to The Times.

In a statement, a Metropolitan Police spokesman said: “At 7.45am on Tuesday, September 9 officers executed a warrant at an address in Camden [London].

“A 37-year-old man was arrested on suspicion of fraud by false representation relating to a betting syndicate. He has since been bailed pending further inquiries.”

Read more on this story:

'Something went pop' - gambling big-timers stunned by loss of millions through Rory Campbell's betting syndicate 

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