Two suspects have been charged in connection with an alleged £5 million gambling investment scam.

The scheme which reportedly was operating out of Folkestone is said to have defrauded about 130 victims.

Between July 2017 and May 2021, would-be investors from the UK and abroad put money into a complex online betting process called Apex Algorithms.

Detectives have been investigating claims the scheme was advertised using false information, including inaccurate forecasts of potential and actual profits and that victims also received false returns.

In December 2020, arrests were made, including at an office premises in Folkestone, after search warrants were executed.

Following an investigation by the Kent and Essex Serious Crime Directorate, two suspects have been charged.

Nathan Burgoyne, 33, from Wingham near Canterbury, and Paul Northcott, 61, from Crystal Palace, London, have been charged.

Both men are accused of conspiracy to defraud, fraud by false representation and carrying on business of a company with intent to defraud creditors.

Both also face further charges of money laundering.

The pair have both been bailed to appear at Maidstone Magistrates Court tomorrow.