Cru press conference: 'we want to check there has been no fraud'

In a sensational development Kevan Ward, chairman of the Cru investor committee, says he wants confirmation that there has been no fraud involving the suspended Arch Cru funds. Ward is also director of the Optima adviser group that has a distribution deal with Cru.

Cru managing director Marc Ainscough says it would be a shame if the FSA sought to restrict retail access to private market investments in light of the liquidity problems experienced by the Arch Cru fund range.

He also explained the apparently frosty relationship with fund manager Arch and administrator Capita.

The comments were made at the press conference to which Citywire was denied access. IFAtv recorded the conference and were able to supply us with footage. You can watch IFAtv's report here.

You can also read Cru chairman Jon Maguire's detailed responses to our questions before the investor meeting on our blog.