now Deloitte & Touche LLP, partner Alfred Williams with fraud.

The charges are related to a case in which Bermudian investment manager Michael Marsh and a Swiss trustee are suing independent currency trader Robert John Young and Touche Ross and Cantrade Private Bank Switzerland (C.I.) Ltd.

Cantrade is a Jersey, Channel Islands subsidiary of Union Bank of Switzerland.

Mr. Marsh, president of Troy Associates Ltd., raised the investor money and retained Mr. Young to invest it. Mr. Marsh represents 82 investors who lost $27 million.

Mr. Young, who told investors their money was steadily growing, was arrested in August as he was about to leave for Dubai.

The plaintiffs say Touche Ross, represented by Mr. Williams, falsely said Scottish born Mr. Young's performance records were accurate.

A spokeswoman for Deloitte & Touche in London said: "The firm's position has always been that we didn't audit the trading funds in question. What is more, Alfred Williams wasn't a chartered accountant and wasn't approved to carry out audits.'' Bloomberg Business News also said Union Bank of Switzerland's Cantrade unit said the bank and officer Peter Stoneman were also charged with fraud by Channel Islands Police.

The Wall Street Journal said the situation surfaced two-and-a-half years before Mr. Young's attempted departure to Dubai.