Concern over Titan relaunch

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The Government was yesterday urged to take action following a report in The Independent that a money-circulation scheme banned by the High Court could be launched again in the new year. Nigel Griffiths, the shadow Department of Trade and Industry Minister, has written to Ian Lang, President of the Board of Trade, saying he is "very concerned".

The scheme, Titan, was closed down in the High Court in August. It has been claimed that total losses for Titan investors could top pounds 17m. Thousands of people paid four-figure sums to join the Titan Business Club. They would then receive payments from members they recruited.