MADRID - SPANISH police have arrested six people in connection with a US$600 million (S$899 million) fraud on the London Stock Exchange, the Interior Ministry said on Wednesday.

One of the six people arrested is the suspected organiser of the fraud, which used stock market operations and forgery to pump up the share price of a British company, the ministry said in a statement.

The British company was suspended from trading on the London Stock Exchange's AIM market in 2005, when the fraud investigation began.