ID :
11741
Mon, 07/07/2008 - 10:45
Auther :
Shortlink :
http://m.oananews.org//node/11741
The shortlink copeid
British royal police lose fortune in betting: report
London, July 7 (PTI) - Dozens of police officers in Britain have run up losses to the tune of 1.1 million pounds
after investing in a spread-betting syndicate that was
operated secretly from inside the royal palaces, a news report
said.
'The Sunday Times' reported that the Scotland Yard has
been investigating an officer at the centre of the syndicate,
which gambled millions of pounds of officers' money on the
currency and commodity markets.
The syndicate lost "more than 1.1 million pounds in
just one of the spread-betting firms they used," the British
daily said.
MPs are calling for an inquiry into how senior
managers allowed the syndicate to flourish for six years and
its impact on royal security.
The syndicate, according to the report, was run from
within Buckingham Palace and St James' Palace by royalty
protection officers who guard the Queen and her family.
A key member of the syndicate claimed that armed
officers used police cars to courier tens of thousands of
pounds in cash winnings between the palaces while on duty.
The syndicate, known as the Currency Club, involved
more than 130 police officers of all ranks across the country,
the report stated.
The scheme collapsed last year, leaving many officers
with substantial losses.
Patrick Mercer M.P., former shadow minister for
homeland security, called on the home affairs select committee
to investigate the affair.
"This sort of activity leaves individuals like this
open to blackmail and corruption, yet they are engaged in some
of the most sensitive duties of any police officer. This
indicates a gross lack of oversight," he said.
According to the London-based daily, in January, a
37-year-old constable who served at Buckingham Palace for ten
years was sacked over his role in the spread-betting
operation. He was later charged with fraud and money
laundering - which he strongly denies.
A spokesman for the Metropolitan Police said: "We have
no knowledge of an investigation into numerous officers at
SO14 spread-betting."
He would confirm only that an individual officer had
been investigated. PTI HSR
after investing in a spread-betting syndicate that was
operated secretly from inside the royal palaces, a news report
said.
'The Sunday Times' reported that the Scotland Yard has
been investigating an officer at the centre of the syndicate,
which gambled millions of pounds of officers' money on the
currency and commodity markets.
The syndicate lost "more than 1.1 million pounds in
just one of the spread-betting firms they used," the British
daily said.
MPs are calling for an inquiry into how senior
managers allowed the syndicate to flourish for six years and
its impact on royal security.
The syndicate, according to the report, was run from
within Buckingham Palace and St James' Palace by royalty
protection officers who guard the Queen and her family.
A key member of the syndicate claimed that armed
officers used police cars to courier tens of thousands of
pounds in cash winnings between the palaces while on duty.
The syndicate, known as the Currency Club, involved
more than 130 police officers of all ranks across the country,
the report stated.
The scheme collapsed last year, leaving many officers
with substantial losses.
Patrick Mercer M.P., former shadow minister for
homeland security, called on the home affairs select committee
to investigate the affair.
"This sort of activity leaves individuals like this
open to blackmail and corruption, yet they are engaged in some
of the most sensitive duties of any police officer. This
indicates a gross lack of oversight," he said.
According to the London-based daily, in January, a
37-year-old constable who served at Buckingham Palace for ten
years was sacked over his role in the spread-betting
operation. He was later charged with fraud and money
laundering - which he strongly denies.
A spokesman for the Metropolitan Police said: "We have
no knowledge of an investigation into numerous officers at
SO14 spread-betting."
He would confirm only that an individual officer had
been investigated. PTI HSR
