It follows reports last year that 50 investors, including Tony Blair’s former spin doctor, who lives in Gospel Oak, lost money after a fund used to place bets on football had gone bust.
His son Rory Campbell launched the fund in 2017.
Some investors reportedly lost up to £500,000 from their involvement in the failed fund.
Police have been investigating the case since the collapse.
A 37-year-old man was arrested on September 9 at 7.45am on suspicion of fraud by false representation relating to a betting syndicate.
He has since been released on bail pending further enquiries.
A Metropolitan Police spokesperson said: “At 07.45am on Tuesday, September 9, officers executed a warrant at an address in Camden.
“A 37-year-old man was arrested on suspicion of fraud by false representation relating to a betting syndicate. He has since been bailed pending further enquiries.”
