Three people have been arrested as part of an investigation into an alleged £76m fraud involving luxury care homes.
Two sites were raided across St Leonard’s, Dorset and Aylesbury as part of the Serious Fraud Office (SFO) probe.
The investigation is looking into the UK registered property developer, the Carlauren Group, which collapsed into administration in November 2019.
The raids took place across the south of England, in St Leonard’s, Dorset, Aylesbury, and Buckinghamshire.
The Carlauren Group bought up 23 properties, often former hotels, across the UK and claimed to offer an annual ten per cent returns to investors.
However, only nine of these became operational and some continued as hotels instead of care homes.
Alongside that, the group purchased a number of supercars, a private jet and two yachts as well.
Nick Ephgrave QPM, Director of the Serious Fraud Office, said: “This company’s abrupt collapse has created turmoil and enormous anxiety for many, with elderly people forced to vacate their homes and investors left with nothing.
“Today’s arrests are a major development in our investigation and a step towards getting the answers so many people need.”
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