Tory MP Davis calls for investigation into Arch Cru 'fraud'

Davis has written to the watchdog following conversations with Martin Wheatley, managing director of the Financial Services Authority's Conduct Business Unit, and other regulators, according to the Mail on Sunday. He is concerned that investors' losses may have been made worse by the "likelihood of false accounting, gross negligence and possibly fraud" before the funds were suspended in March 2009. Parliamentarians have been taking an increasing interst in the Arch Cru saga in recent months, with about 80 MPs joining an all-party parliamentary group on the issue. The Financial Serv...