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Six arrested after Crown Currency Exchange collapse

Police have arrested three men and three women for money laundering and fraud offences in relation to the collapse of Crown Currency Exchange.

Devon and Cornwall Police have also searched five properties as part of the investigation and are linking the collapse of a ‘cash for gold’ company called Mayfair and Grant to the inquiry.

The arrests were made in Cornwall and Hertfordshire.

Crown Currency Exchange was one of the UK’s biggest foreign market exchange websites before it collapsed in October and administrators MCR were called in.

Devon and Cornwall Police head of economic crime unit detective inspector Paul Bean says there are over 8000 people affected by the collapses of the companies.

He says: “This is a lengthy and complicated investigation and there are many lines of enquiry to pursue. If anyone believes they are a victim in this investigation they should contact the administrators MCR. All registered losers will contacted but this may take some time.”

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