Detectives confirmed they were investigating the death of Allan Chappelow as suspicious, but said it was not a murder inquiry.

Chappelow's body was found by officers at his home in Downshire Hill, Hampstead, northwest London, on Wednesday after they were alerted by "reports of concern for his welfare", police said.

The 86-year-old's body was removed from the address on Friday and a post-mortem examination was being held yesterday.

A Scotland Yard spokesman said: "It is thought the man died some days ago. We await formal identification. The death is being treated as suspicious."

According to a report in a British tabloid newspaper yesterday, the millionaire may have been tortured by a gang and been the victim of identity theft. It says police were alerted by staff at Chappelow's bank after more than £10,000 was transferred from his account.

Police want to speak to anyone who may have seen Chappelow or any visitors to the house in recent weeks.