Investigation Into Challenor Property Developments In York - Four Arrested In Dawn Raids

North Yorkshire Police fraud investigators have this morning (Monday 19 January 2009) arrested four people in connection with the collapsed York-based property club Challenor Property Developments.

non emergency number car 2

Search warrants were executed at several properties across York in a series of dawn raids by detectives and Financial Investigators, supported by specialist search teams and cash sniffer dogs from West Yorkshire Police.

A large amount of property and documents have been seized for examination.

The four people taken into custody for questioning - three men aged 62, 44 and 38, and a 51-year-old woman - were arrested on suspicion of conspiracy to defraud and money laundering.

Challenor Property Developments operated from Regency House, Westminster Business Park, York. The business dealt in the bulk sale of 'buy-to-let' property in the UK and abroad.

The majority of their clients came via the internet In May 2008 the business collapsed and the offices were cleared.

More than 180 clients have complained to North Yorkshire Police and there is a monetary loss in the region of £2 million.

Anyone with information regarding Challenor Property Developments is urged to contact North Yorkshire Police.

Investigators are particularly keen to talk to former Challenor staff members who have not yet made contact with the enquiry.

Officers can be reached on (01904) 669582, by post to Operation Leeson, Police Station, Fulford Road, York, YO10 4BY or by email to ChallenorPropDevelopments@northyorkshire.pnn.police.uk.

19 January 2009