A man was arrested in Milton Keynes this morning as part of a multi-million pound fraud investigation which took place over four counties.
The 46-year-old’s arrest took place at the same time as that of a 32-year-old woman and 26-year-old man in Bedford, and a 66-year-old man in Huntingdon.
The investigation by the Department of Business, Innovation and Skills (BIS) saw a series of raids take place at residential properties and businesses took place in 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.
The investigation is into fraudulently trading companies, tax evasion and money laundering
All four people 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.
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.