Five men have been arrested across the North West and London in a National Crime Agency investigation linked to property investment fraud and money laundering.
NCA officers arrested a 68-year-old man at an apartment in central London on Thursday, February 23. He is suspected of being involved in the fraud that targeted victims with promises of investment returns on North West property developments.
Another man, aged 60, was also arrested at a property in West Lancashire. Would-be investors were approached to buy apartments advertised as off-plan with offers of guaranteed rental income when they were completed. The projects were never finished meaning up to 100 investors were defrauded out of nearly £8m.
