FOLD nightclub, only a year old, has been ordered to cease all operations on account of suspected fraud and money laundering. The East-London club’s operating license was suspended even though there has yet to be a trial of any sort.
According a statement, the license is under review “on the grounds that in the opinion of a senior police officer the premises are associated with serious crime.” Another court document outlines the specific illegal activity that prompted an investigation, claiming the FOLD could be guilty of committing fraud “relating to approximately £200,000 worth of material,” or “high-value DJ equipment.”
The plot of the popular underground club’s demise thickens, as additionally, two people associated with FOLD were arrested due to suspicion of conspiracy involvement to commit money laundering.
The club is asking for a fair trial and in an Instagram post, words from club purveyors are apologetic and seemingly innocent. This could be a case of “a few bad apples ruined the bunch,” but for now, until these issues are further resolved, all future events are effectively canceled.
