Cash totalling half a million pounds has been seized from premises raided by police investigating a suspected VAT and money laundering fraud.

Two men arrested on the island, who are both local residents, have been released on bail, while police are trying to track down a third individual.

Premises in Hill Street, Douglas, and Manor Park, Onchan, were raided on Wednesday in a joint operation between officers from HM Revenue and Customs, Cheshire Constabulary, the National Crime Agency, Guernsey's border agency and the Manx police force.

Police say the searches are almost concluded and have resulted in the seizure of half a million pounds in cash, business records, computers and phones.


Got a story? Contact Joanne on 340000 or email newsdesk@manx.net

twitter @jonewsiom