British Seize Suspect in $25-Million Fraud
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LONDON — Art James Laycock, accused of involvement in a $25-million fraud, has been arrested in Britain at the request of U.S. officials, British police said Friday.
The Serious Fraud Office said that Laycock was arrested by the Devon and Cornwall police in western England at the request of the U.S. Attorney in Boston.
The SFO said criminal proceedings are under way in Boston against Laycock and two others, Harold Glantz and Norman Epstein.
“All three are accused of offenses of fraud which concern the obtaining of $25 million from investors in Europe who were led to believe that they were investing in “standby letters of credit’ through a company by the name of Kinder Capital Inc,” the SFO said.
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