Pop star Rita Ora among investors swindled out of £2.3m
Pop singer Rita Ora has lost a substantial chunk of her fortune as part of an alleged £2.3m fraud by a Northampton-based accountant
20 Dec 2016
Fraud investigators from Northamptonshire Police have launched a probe into claims cash was siphoned off from a business the Kosovo-born star invested in.
The force confirmed it is conducting an ongoing investigation in respect of a former employee of Blue Cube Business Ltd.
A 35 year old man was arrested and is currently on bail.
Ora’s lawyer Graham Shear, head of international commercial dispute resolution at Berwin Leighton Paisner told CCH Daily: ‘Rita Ora has multiple business interests globally. One of the companies in which she has an interest is a potential victim of fraud along with several other companies and individuals.
‘The potential loss suffered by all the victims collectively is thought to be significant but only a proportion of that total figure will apply to the entity in which Ms Ora is one of several shareholders. Any loss suffered by the company in which Ms Ora has an interest will be recoverable from insurance policies which protect against this sort of professional misappropriation, fraud and other claims.’
The X Factor judge is reported to be worth around $16m (£12.8m), according to Forbes.
A spokesman for Blue Cubed Business Ltd said in a statement: ‘We can confirm that a former employee, who worked for Blue Cube Business Ltd, has been arrested as part of an ongoing financial investigation by Northamptonshire Police.
‘However, due to the ongoing nature of the criminal investigation, we cannot comment further at this time.’