Premium Article Date: 29 September 2010

http://www.portsmouth.co.uk/newshome/Arrests-follow-probe-into-moneylaundering.6556150.jp

A man from Portsmouth has been arrested after morning police raids to smash a money-laundering ring.

About 50 officers from Hampshire Constabulary executed eight warrants at addresses in Bognor Regis, and one address in Laburnum Grove, North End, Portsmouth.

Six men were arrested - one at the Portsmouth address - as a result of the 6am raids yesterday.

The arrests came after an investigation into criminal funds by Hampshire Constabulary.

All of the men are in their late twenties and early 30s, and are Eastern European.

They were taken into custody at police stations in Hampshire, and yesterday were being questioned.

The arrests are part of an ongoing investigation by the Serious and Organised Crime Unit at Hampshire Constabulary into a money-laundering operation based in Bognor Regis and operating in Hampshire and West Sussex.

Police have not yet released any more details on the investigation, or the type of money laundering involved.

The crime involves obtaining cash by illegal means. This is usually done through transfers and deals so that the funds can eventually be made to appear as legitimate income.