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25 February 2015, 11:27 | Updated: 25 February 2015, 11:32
Four people, including one from Huntingdon, have been arrested in a series of dawn raids in connection with a multimillion-pound trading fraud investigation.
A 32-year-old woman and a 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 are all currently being held in custody, Bedfordshire Police said.
The arrests were triggered by a Business Department investigation into fraudulently trading companies, tax evasion and money laundering. The Insolvency Service had raised an alert amid fears that a number of companies were being set up to fail - defrauding creditors out of large sums of money.
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 for Business, Innovation and Skills (BIS) were involved in the raids.
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 taxpayer 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.