By Rory Reynolds
A MAN has been arrested and charged in connection with massive mortgage frauds totalling more than £350,000.
The 42-year-old was seized by police in Edinburgh as part of an ongoing anti-fraud and money laundering investigation to target the assets of organised criminals.
Lothian and Borders Police confirmed that the arrest is linked to similar charges brought against another 42-year-old man in the capital recently.
The previous arrest followed raids on properties in the city’s Mortonhall, Leith Walk, and Murrayfield areas as well as locations in Musselburgh, working under the Proceeds of Crime Act.
So far the force has revealed £2.6million worth of fraudulently obtained mortgages.
Detective Chief Inspector Robert Cowper said: “Money laundering provides individuals concerned with serious organised crime the opportunity to hide their ill-gotten profits and evade detection.
Justice
“As we continue to tackle these crime groups, we will look to uncover more laundered cash and seize any assets believed to have been obtained as a result of criminal activity.
“Lothian and Borders Police will not tolerate serious organised crime and will actively seek to bring to justice anyone found to be involved.”
Last month the force revealed they had drawn up a hit list of luxury homes, fast cars and designer jewellery worth £21million.
Police are working to target six of the 20 most serious and organised gangs in Scotland that are based in the Lothians.
