Designer watches and cash were seized in an early morning raid today as part of an investigation into a sophisticated investment fraud.

In the scam, people, mainly elderly, searching online for ISA investments are contacted and duped into transferring money into what they believe is a well-known banking establishment.

But it is actually a fake banking product.

Over £150,000 worth of victims’ money was transferred into accounts within the Greater Manchester area and laundered into further accounts to benefit influential members of criminal groups.

In a bid to help smash the racket police searched a home in Littleborough, Rochdale, at 7am, recovering twenty one expensive watches and £4,000 in cash.

Officers from GMP’s Economic and Cyber Crime Section executed a warrant.

Some of the 20 designer watches seized by officers investigating a sophisticated investment fraud. Cash was also recovered from a home in Littleborough.

The raid is part of…

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