A 61-year-old man has been arrested and charged by police probing a multimillion-pound fraud spanning 13 years.
Up to 180 investors claimed to have lost an estimated £9million after Midas Financial Solutions Scotland was investigated by a financial watchdog.
Police then launched a criminal inquiry and sent hundreds of letters to potential victims.
Police said their probe covered Midas’s activities between October 2001 and September 2014.
The firm, based at Aberdeen’s Carden Place, was founded in 2006.
Detectives had earlier confirmed their investigation focused on a short-term investment scheme the company was running as well as “independent financial advisers attached to that firm”.
Alistair Greig, of Cairnbulg, near Fraserburgh, was the largest shareholder and a co-founder of the wealth management firm.
The company collapsed in October last year just weeks after the “large scale” criminal inquiry was launched.
The Press and Journal has spoken to several people across the north-east who claim to have lost savings running into tens of thousands of pounds in a scheme offered to them by advisers who worked for Midas.
These included a trio of businessmen from Banchory, Dyce and Inverurie, a group of fishermen from Fraserburgh, pensioners from Portlethen and expat oil and gas workers originally from Aberdeen.
Since the investigation was launched a number of people have attempted to join forces to launch legal actions in the hope of recovering at least some of the cash they claim to have lost.
The Financial Conduct Authority (FCA) said money which investors had been handing over to advisers associated with Midas for years was not covered by compensation schemes because neither the company nor its advisers were authorised to accept deposits.
A police spokeswoman last night declined to confirm when the arrested man was due in court or if he was in custody.
She added that a report would be submitted to the procurator fiscal “in due course”.