Four Held In Multi-Million Pound Fraud Investigation
25 February 2015, 10:28
Three men and a woman have been arrested in Beds, Bucks and Cambs as part of a multi-million pound fraud investigation.
A series of raids at residential properties and businesses took place across Bedfordshire, Buckinghamshire, Cambridgeshire and Surrey at 7.30am.
More than 100 officers from Bedfordshire Police, Thames Valley Police, Cambridgeshire Constabulary, Her Majesty's Revenue and Customs (HMRC), Regional Organised Crime Units and 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.
The investigation is into fraudulently trading companies, tax evasion and money laundering
They are currently being held in custody.
Searches are continuing at a number of properties across the region.
The investigation 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.
The BIS Deputy Chief Investigation Officer Glenn Wicks, who is leading the investigation, said: "Today's action shows how seriously we take suspected fraud and tax evasion.
"Fraud and tax evasion are not victimless crimes as they affect creditors and every tax payer in the UK.
"We will continue to work closely with the police and HMRC to identify and disrupt anyone we believe is involved in such criminality."
Fraudulent Trading carries a 10-year maximum prison sentence.