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.
The raid is part of…