Update after Portsmouth man arrested on suspicion of money laundering as part of ongoing financial financial investigation linked to a property management company

A specialist organised crime unit have released an update after they arrested a man from Portsmouth yesterday (July 14).

The 58-year-old man was arrested on suspicion of fraud by abuse of position, fraudulent trading, money laundering and theft after the South East Regional Organised Crime Unit (SEROCU) raided a home and business in Portsmouth.

SEROCU have now confirmed that the man has been released under investigation.

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A spokesperson for SEROCU said: “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.”