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Police arrest three and seize cash as part of fraud investigation

Police arrested three people and seized a quantity of cash and other items on Wednesday as part of an ongoing fraud investigation.

A spokesman for the Bermuda Police Service said this afternoon that the Financial Crime Unit had carried out a pre-dawn raid during an investigation into “persons defrauding a financial institution and one of its clients of a significant sum of money”.

He added: “Warrants executed at different locations across the island resulted in the arrests of three suspects, who are currently in police custody.

“A quantity of cash as well as other items believed to be the proceeds of crime were recovered during the execution of those warrants.

“The investigation into this matter remains ongoing and those arrested will be appearing before the courts in due course.”

Detective Chief Inspector Jason Smith of the Specialist Crime Division thanked members of the public who came forward with information that allowed investigators to make “significant headway” with the case.

“Their assistance has proven invaluable in putting a stop to an illegal activity, which may have otherwise remained unknown to police,” he said.

“This type of partnership benefits the entire community as it enables us to bring perpetrators to justice and in so doing make Bermuda safer.”

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