The owner of an estate agents from which more than £60,000 went missing has been released from police bail.
Peter Leonard, owner of the now closed Direct Lettings, has been on police bail since June 2013.
He has now been stood down from bail while enquiries into the missing money continue.
His shop, in Western Road, Hove, has since been shut down and is in the process of being converted. He was arrested in June 2013 on suspicion of fraud.
A police spokesman said yesterday: “The 57-year-old who was arrested as part of the investigation has been released from bail and told there will be no further action taken against him at this stage.”