One person has been arrested today as part of a major fraud and money laundering investigation.
The Island's financial investigation team are executing six warrants in Douglas and Onchan, they're backed up by the Cheshire Constabulary and Guernsey Border Agency.
The investigation has been codenamed Operation Bannock.
Simultaneous searches of 13 premises in Cheshire, London, Manchester and Guernsey are also ongoing, so far six people in total have been arrested.
It's believed the extent of the fraud totals £21 million.
The public are advised that there will be considerable police activity in and around Hill Street in Douglas, and Manor Park in Onchan during today; the searches could take a considerable length of time.
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