Hundreds of Gurkhas and members of the Nepalese community could have been victims of a £50 million scam.

Fraud investigators are now appealing for victims to come forward if they have invested in what is now believed to be a Ponzi scheme.

Kent has a large Nepalese population with communities in Folkestone, Ashford and Maidstone - with many families staying after serving in the Army.

The appeal comes from City of London Police and The Gurkha Welfare Trust today as part of an investigation launched in October 2014.

City of London Police, the national policing lead for fraud, have been investigating CWM’s (Capital World Market) managed fund offering 5% interest per month.

The force said detectives have had stories from potential victims who have invested anything from a few thousand to several million pounds.

They now want victims to come forward so their voice can be heard during the judicial process.

The schemes are advertised as “get rich quick investment scams” but the fraudsters then siphon off the money for themselves, according to Action Fraud.

Police think the net of potential victims spreads much wider with the majority being in the Gurkha and Nepalese communities.

Det Ch Insp Dave Manley, from the City of London Police, said the investigation is "progressing well" as they continue to build its case.

He added: "The evidence suggests that representatives of CWM targeted hundreds of members of the Gurkha and Nepalese community and then exploited them in order to defraud millions of pounds.

“My concern now is that the voices of the majority of victims will not be heard in the judicial process if they do not come forward very soon.

"They are also missing out on receiving the financial advice and psychological support that is available to them at what will be a very difficult time.”

Nine months ago police arrested 10 men and three women from CWM, a City-based foreign exchange trading company, on suspicion of fraud by false representation and money laundering.

All 13 have been released on bail after computers and documents were seized by detectives at the company’s offices in Heron Tower in the Square Mile.

Gary Ghale, Gurkha welfare officer at The Gurkha Welfare Trust, added:“We would advise anyone who believes they have fallen victim to this suspected fraud to contact the City of London Police immediately.

“All those who come forward will be treated with care and dealt with in complete confidence by what is a highly trained team of detectives.

“The Trust is committed to supporting the ex-Gurkha community and we recommend approaching the police as the best course of action an affected individual can take.”

If you or anyone you know suspect they might have been a victim of this fraud call the investigation team on 020 7601 6830, call Action Fraud on 0300 123 2040 or email opvanbrugh@cityoflondon.pnn.police.uk