Two expatriate businessmen have been arrested in connection with an alleged deception racket involving futures trading.
Dutchman Guido Cornelis Hubert Bekker, 32, and American John Louis Northcotte, 39, were arrested by the Commercial Crime Bureau at their office in Lockhart Road yesterday.
The pair, who run Global Options Trading Co Ltd, which opened for business only last month, were being questioned by detectives last night. Their 16 staff were helping with inquiries. Police said the number of victims and the amount of the alleged losses were unclear. A police source said staff had been cold-calling companies overseas, offering investment opportunities in heating oil futures on the New York Mercantile Exchange. Police sources said the investments were non-existent.