A third man has been arrested in connection with a £15 million cryptocurrency fraud as detectives intensify their investigation into a large-scale money laundering operation.
The 37-year-old suspect handed himself in at a London police station days after two men, aged 24 and 36, were arrested in early-morning raids on Castlewood Road, Stamford Hill, on 7 May.
All three have now been released on bail.
Castlewood Road in Stamford Hill, where officers raided homes as part of a £15m fraud investigation. Photo Credit: Google
The arrests form part of Operation Galafarm, a Metropolitan Police investigation into a suspected cryptocurrency scam that targeted members of the public with fraudulent investment offers.
A Met Police spokesperson said: “Three men have been arrested as part of an investigation into a multi-million-pound fraud and money laundering scheme. It is alleged more than £15m in stolen funds was laundered through a set of shell companies.”
Six properties across North Hackney were raided during the operation. Images from the scene showed Territorial Support Group officers unloading riot gear as warrants were executed.
The investigation is ongoing.
