staff and news service reports
updated 1/28/2009 8:55:16 AM ET 2009-01-28T13:55:16

Spanish police have arrested six people in connection with a $600 million fraud on the London Stock Exchange, Spain's Interior Ministry said Wednesday.

One of the six people arrested is the suspected organizer of the fraud, which used stock market operations and forgery to pump up the share price of a British company, the ministry said in a statement.

The British company was suspended from trading on the London Stock Exchange's AIM market in 2005, when the fraud investigation began.

The British Broadcasting Corp. reported that the arrests relate to the fraud committed at a company called Langbar.

The arrests were made in the Spanish cities of Madrid, Alicante and Barcelona.

According to reports, police said they had confiscated computers and documents during searches at six premises.

Reuters contributed to this report.


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