Seven arrested in mortgage fraud raids given bail
Wednesday 22nd September 2010, 11:29AM BST.
Seven people arrested in a series of raids across Telford as part of a mortgage fraud and money laundering probe have been released on bail.
The five men and two women, who were held in Wellington and Hadley yesterday afternoon, have been released until the new year.
Two other men, arrested for obstructing the police, were both given reprimands.
The arrests came after more than 60 officers from West Mercia’s Serious and Organised Crime Unit and other agencies launched a series of raids at four private properties in Wellington and another in Admaston.
Two hours later three business sites in Wellington and Hadley were searched as part of the investigation.
A pub in St Georges was also raided and a further property in Wolverhampton was swooped on.
Detectives seized documents from some of the properties after making the arrests. Those arrested were landlords who rented out private properties.
Toby Shergold, spokes-man for West Mercia Police, said: “The five men and two women arrested on suspicion of mortgage fraud and money laundering as part of yesterday’s investigation have all been released on police bail pending further inquiries until the new year.
“We would like to thank the residents in Hadley and Wellington for their co-operation yesterday.”
Chief Inspector Andy Hughes, head of SOCU, appealed for tenants who had concerns about their landlord and the way they operated financially to contact police.
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