Man arrested in connection with financial investigation

Officers from the South East Regional Organised Crime Unit (SEROCU) have arrested a man in connection with an ongoing financial investigation linked to a property management company.

A 58-year-old man from Portsmouth was arrested yesterday (14/7) on suspicion of:

• fraud by abuse of position, contrary to section 4 of the Fraud Act 2006;
• fraudulent trading, contrary section 993 of the Companies Act 2006;
• money laundering contrary to Proceeds of Crime Act 2002;
• theft

He has been released under investigation.

The arrest is in connection with an investigation relating to funds linked to a Hampshire-based property management agency.

Search activity took place yesterday at business premises and at a residential premises, both in Portsmouth.

SEROCU is working closely with a number of partner agencies and financial institutions. Enquiries are ongoing. 

Anyone who has any information which could assist the investigation, should contact Hampshire and Isle of Wight Constabulary via the non-emergency number, 101, quoting reference 44260266014.

-ENDS-