The FCA has decided to no longer seek a £5.95m financial penalty against Nailesh Teraiya, formerly sole controller and chief executive of Indigo Global Partners Limited (Indigo).

Former NASA physicist John Burford has pleaded guilty in a £1m investment fraud case, following a prosecution brought by the FCA.

The FCA, backed by City of London Police, has arrested four individuals over suspected fraud and money laundering offences.

A chess-playing fugitive fraudster who stole more than £750,000 in a tax and mortgage fraud faces an extra five years in prison for not paying back the money.