Two more held in multi-million pound fraud investigation

Library image.
Library image.

Another two people have been arrested in connection with a multi-million pound fraud investigation.

A 56-year-old man and a 29-year-old woman were arrested today (Friday, February 27).

The arrests follow a series of raids at homes and businesses that took place across Beds, Bucks, Cambs and Surrey on Tuesday.

More than 100 officers from Bedfordshire Police, Thames Valley Police, Cambridgeshire Constabulary, Her Majesty’s Revenue and Customs (HMRC), Regional Organised Crime Units and the Department of Business, Innovation and Skills (BIS) were involved in the warrants.

A 32-year-old woman and 26-year-old man were arrested in Bedford, a 66-year-old man was arrested in Huntingdon, and a 46-year-old man was arrested in Milton Keynes. They have since been bailed until June and July.

The investigation is into fraudulently trading companies, tax evasion and money laundering

It was launched following concerns raised by the Insolvency Service that a number of companies were being set up to fail – defrauding creditors out of large sums of money.