The United Kingdom’s Serious Fraud Office (SFO) confirmed that properties across the country had been raided, and an individual had been arrested following its investigation into a multimillion-pound investment scam.
With a far-reaching impact, the scheme had selected 1,500 victims located in around 50 different countries around the world.
The SFO stated it was investigating a group of companies known as Alpha and Green Park following suspicions of fraud and money laundering. It estimated that the group’s directors may potentially have profited by 20 million pounds from the scheme, which promised an annual return of between 8 to 10 per cent on investments made in holiday parks and accommodation for students.
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In a recent statement issued by the SFO, the UK watchdog said that investors in the scheme had not received the guaranteed returns promised since back in 2018. After an investigation that took half a year to complete, the fraud agency conducted interviews, mandatory evidence requests and coordinated raids, with the SFO suspecting that investors had been victims of fraud.
The Chief Investigator for the SFO, Mick Gallagher, is urging anyone with any connection to the ongoing investigation to come forward. By the end of November, those based in the UK who invested in the scheme must complete a questionnaire to help the inquiry.