By Jonathan Davies

Bannatyne Group, the company owned by former Dragon's Den star Duncan Banntyne, is the subject of a serious fraud investigation after it raised the alarm to authorities.

A Bannatyne Group spokesperson said the police are investigating after the company informed them of a serious financial matter which is believed to have affected the company.

Durham Police said: “The investigation involves an alleged multi-million pound fraud on a Darlington-based business."

The police force said that one arrest had been made, but the person was released on bail shortly after.

Duncan Bannatyne, 65, established the Bannatyne Group in 1996. It is best known for its portfolio of health clubs, spas and hotels in the UK. The company's headquarters are in Darlington.

Join us on
Follow @freshbusiness