Crown Currency Exchange latest: six further arrests

Devon and Cornwall Police arrested three men and three women and searched five properties.

The six were arrested for money laundering and fraud offences at addresses in Cornwall and Hertfordshire.

Police have also linked the collapse of a cash for gold company called Mayfair and Grant to this criminal investigation.

Detective Inspector Paul Bean says: "This is a lengthy and complicated investigation in which there are many lines of enquiry to pursue. It is anticipated that there are over 8,000 victims of crime in relation to the collapse of these companies.

"Police are liaising with the administrators for Crown Currency and liquidators for Mayfair and Grant.

"I ask that if any person believes that they are a victim in this investigation that they register with the administrators, MCR, 43-45 Portman Square, London, W1H 6LY. Telephone 0207 4877240."

Two men were arrested in December over Crown's collapse, believed to be former directors Peter Benstead and Edward James.

Around 13,000 Crown customers are owed a combined £20 million for foreign currency they ordered which never arrived after the firm collapsed in October. However, only 9,500 have so far identified themselves to MCR.

Administrators say Crown's assets appear to be little more than the £3.6 million in cash and equipment detailed in the creditors report to spread between those owed money.

However, the value of the pot could rise if assets are seized from the company's directors, which can only happen if wrong-doing is proven.

Further reading/Key links

Administration latest: MCR website