Found this on Wikipedia:

“On several occasions the former “Spiritualist medium” Derek Acorah was supposedly possessed by an entity, sometimes evil or sometimes “lost and confused”. Two such cases exposed Acorah. Before the filming, Acorah had been fed disinformation twice about the non-existent ghosts of Kreed Kafer and Rik Eedles by the show parapsychologist Dr. Ciaran O’ Keeffe. During the investigations, later broadcast, he presented the information as fact and even behaved as though being possessed by the fictional ghosts. O’Keeffe later revealed in the Daily Mirror that Kreed Kafer and Rik Eedles were anagrams of ‘Derek Faker’ and ‘Derek Lies’.”

http://en.wikipedia.org/wiki/Most_Haunted#Controversy

More about it at:
http://homepage.ntlworld.com/isil.telemnar/Doublexposure/Kreed_Kafer.htm