A man from Wigan and a woman from Cheshire have been arrested over alleged property fraud after investors were conned out of nearly £8m for apartment deals that were never completed.
The would-be investors were approached to purchase apartments advertised as 'off plan' with the promise of high rates of rental income once the sales were completed.
But the deals were never completed resulting in up to 100 investors being defrauded out of nearly £8m, according to the National Crime Agency (NCA).
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Today (Friday) the NCA revealed that during a series of swoops, the latest on Thursday, seven suspects have been arrested including a 67-year-old from Wigan and a 61-year-old woman from Cheshire. Both were quizzed on suspicion of money laundering and fraud.
Two men from Chorley, aged 47 and 38, and a 60-year-old from west Lancashire have also been arrested, as well as two men from London, aged 68 and 38. All those arrested have been interviewed and released pending further enquiries.
The NCA investigation is focussing on an alleged fraud targeting victims with promises of investment returns on north west property developments.
Detectives have searched two storage units in central London and two houses in Liverpool and a number of digital devices and documentation relating have been seized.
Suzanne Foster, branch commander from the NCA’s Complex Financial Crime Team, said: “Fraud can be absolutely devastating for victims. In this case, we know that some people have had their whole life savings taken from them.
“This group were organised and are suspected of fraudulently making and laundering millions of pounds by relying on people’s trust.
“Tackling fraud is a priority area for the NCA and we, along with our partners, are committed to disrupting those people and groups that profit from it. This investigation continues.”
If you have fallen victim to fraud or cyber crime, report it any time at www.actionfraud.police.uk or call 0300 123 2040. In Scotland, report it to Police Scotland by calling 101.
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