The Crown Prosecution Service has authorised criminal charges against two people, including a former police superintendent, in connection with a £720,000 investment scam.
The alleged victim, a woman, transferred £720,000 between November 2022 and April 2023 believing she would receive a substantial return.
Syed Hussain, a former West Midlands Police superintendent who has since been dismissed, has been charged with fraud and transferring criminal property.
Co-accused Farah Ullah has been charged with fraud and two counts of transferring criminal property.
The pair are due to appear at Westminster Magistrates’ Court on 1 July.
Malcolm McHaffie, head of the Crown Prosecution Service’s Special Crime Division, said: “Our prosecutors have worked to establish that there is sufficient evidence to bring the case to court and that it is in the public interest to pursue criminal proceedings.
“We have worked closely with the Metropolitan Police Service as it has carried out its investigation.”
Farah Ullah, (43), of Peterborough, Cambridgeshire, is charged with fraud, contrary to the Fraud Act 2006, and two counts of transferring criminal property, contrary to section 327(1)(d) of the Proceeds of Crime Act 2002.
Syed Hussain, (54), of Barking, Essex, is charged with fraud, contrary to the Fraud Act 2006, and transferring criminal property, contrary to section 327(1)(d) of the Proceeds of Crime Act 2002.
UK victims lost £2.4m every day to investment fraud in 2025, according to figures published by the City of London Police. The figure is equivalent to losses of £1,675 a minute.
Criminals stole £879.8m through investment fraud last year, the data shows.
During 2025, some 34,673 people reported investment fraud to Report Fraud, the national service that replaced Action Fraud in December. That was a 31% rise on the previous year, with police warning that fraudsters are taking advantage of economic uncertainty, volatile markets and increasingly convincing online platforms to lure in victims.