Police investigate suspicious trades at Rowan Dartington

Police have arrested five men as part of its investigations into a small number of suspicious trades reported by Bristol-based stockbroker and wealth manager Rowan Dartington.

The alleged fraud is understood to involve a small number of high-value transactions identified by the Rowan Dartington team more than a year ago, before a takeover of the company led by now-CEO Graham Coxell.

Avon and Somerset Constabulary confirmed five men, aged 45, 36, 49, 57 and 23, were arrested "some time ago" on suspicion of fraud offences and have been bailed pending further enquiries.

It added the arrests were in connection with some "high value fraudulent transactions" and said the investigation had been going on for just under a year.

A spokesman for Rowan Dartington, which has also reported the alleged fraud to the FSA, said: "We believe a criminal investigation is underway which may also affect other businesses.

"It is important to stress how quickly our compliance team spotted the suspicious transactions and to point out that no clients have been disadvantaged as a result of these actions."