Rita Ora loses money in alleged fraud

Rita Ora is believed to have been caught up in an alleged multi-million pound fraud. The 26-year-old is an investor in a company that is the potential victim of a financial crime, and has reportedly lost "hundreds of thousands" of pounds as a result.

Authorities are said to be investigating claims that a man who lived "like a Saudi prince" was responsible for the fraud. Northampton police confirmed that a 35-year-old man has been arrested and bailed as part of the investigation.


Rita Ora has been caught up in a multi-million pound fraud 

In a statement, Rita's lawyer, Graham Sheer, said: "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 alleged fraud comes just over a year after £200,000 worth of property was taken from the former X Factor judge's home in a raid. Jewellery, bags and iPhones was stolen when two men broke into Rita's house while she and her sister Elena slept upstairs. One of the men, Charaf Elmoudden, was jailed for five years in June.

The 26-year-old pictured with her sister Elena

Rita has an estimated £10million fortune, including £1.5million from The X Factor and £2.5million from DKNY. She also recently made her debut as the new host of America's Top Model, having taken over from supermodel Tyra Banks.

"[Tyra] is so supportive. She is the queen," Rita told Entertainment Tonight of her new TV role. "This was never filling anyone's shoes – this was taking her legacy and really making it our own with a new panel. I wanted to really find a superstar. I think we all do – somebody that can really compete in this industry in the world we live in and with social media, just being a superstar in all boundaries."

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