The suspects, aged 28, 30 and 62, were arrested following raids on addresses on Greenside Close, Wallsend and Pinegarth, Ponteland
Three men have been arrested in connection with an alleged UK-wide investment scam. The men were arrested in Wallsend and Ponteland as part of a police crackdown on investment fraud.
The suspects, aged 28, 30 and 62, were arrested following raids on addresses on Greenside Close, Wallsend and Pinegarth, Ponteland. The trio were arrested on suspicion of fraud and money laundering offences. They have since been released on police bail while inquiries continue.
The raids were carried out on Tuesday by officers from the North East Regional Organised Crime Unit (NEROCU), and were supported by Northumbria Police. Police say the suspects are believed to be linked to a wide-scale scam operation across the UK.
Searches of the properties resulted in the discovery of a large quantity of cash estimated at over £3,000. A quantity of cannabis and a haul of alcohol was also seized.
Detective Sergeant Andrea Smith, part of NEROCU’s Regional Economic Crime Unit, said: “This has been a complex investigation so far and this strike day was a result of careful planning and intelligence gathering as well as a display of our robust stance against this type of offending. Work just like today will continue under the banner of Operation Sentinel – our regional approach to disrupting and tackling Serious and Organised Crime here in the North East.”
DS Smith added: “We urge anyone looking to invest their money to take time to carry out research and ensure it is legitimate and never invest more than you’re willing to lose.” Anyone who has any information about criminal activity, can report it to their local police or via the independent charity Crimestoppers anonymously on 0800 555 111.
Our ChronicleLive Daily newsletter is free. You can sign up to receive it here. It will keep you up to date with all the latest breaking news and top stories from the North East.