Investigations continue into major fraud operation

Last week police searched four private addresses, and two business addresses, on the Island as part of Operation Bannock. 

 

It's a multi-agency investigation into VAT fraud and money laundering and also involves HM Revenue and Customs and police in Cheshire and Guernsey. 

 

One of the men, who'd previously been arrested in the UK, was further arrested on his return to the Isle of Man for conspiracy offences and money laundering within the Island's jurisdiction.

 

13 searches have now taken place here, in Cheshire, London, Manchester and Guernsey - in total four men and three women have been arrested and £1 million in cash has been seized.