Wigan pensioner among group arrested in suspected property fraud where victims lost life savings

The National Crime Agency (NCA) is looking into reports would-be investors were approached to buy apartments advertised as off-plan, with offers of high rates of guaranteed rental income when completed.

The projects were never completed, resulting in up to 100 investors being defrauded out of nearly £8m.

NCA officers arrested a 68 year-old man on suspicion of fraud and money laundering at an apartment in central London on Thursday morning.

He is suspected of being involved in the fraud that targeted victims with promises of investment returns on North West property developments.

A 60-year-old man was arrested on suspicion of fraud at a property in west Lancashire.

Further searches linked to the arrests were carried out at two storage units in central London and two houses in Liverpool.

Three suspected co-conspirators were also detained on Tuesday at two addresses in Chorley and one in Wigan.

A 67-year-old man from Wigan and two men from Chorley, aged 38 and 47, were arrested on suspicion of fraud and money laundering, and have all been released pending further inquiries.

As part of the complex investigation, the NCA arrested another two people on suspicion of fraud and money laundering in June – a 38-year-old man from central London and a 61-year-old woman from Cheshire. They were also released pending further inquiries.

A number of digital devices and documentation relating to the offences have been seized by officers as part of the investigation.

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 at www.actionfraud.police.uk or call 0300 123 2040.