Oaktree: Police to see the FSA

POLICE will meet financial regulators tomorrow to decide who will take the lead in investigating how £2.7m of investors' money disappeared from a firm of financial advisers.

Officials from the Financial Services Authority and the Department of Trade and Industry will discuss the problems at Oaktree Financial Services with representatives of the Nottingham Fraud Squad.

Oaktree's managing director Stephen Higham has already confessed to taking more than £400,000 of one client's money. Receivers have found a £2.7m hole in Oaktree's books.