Men bailed over alleged investment fraud

Two men aged 41 and 55 were arrested and taken into custody but since been bailed Nottinghamshire Police said

Two men arrested over an alleged investment fraud involving a collapsed Nottinghamshire company have been bailed.

Police said they received multiple reports from investors claiming to have been defrauded out of significant sums of money after the firm - Mansfield-based Gallant Building Services Ltd - entered administration earlier this year.

An investigation was launched and officers carried out raids at addresses in Mansfield and the Bassetlaw area on Monday, with a fourth warrant executed in Sussex on the same morning.

The force said two men, aged 41 and 55, were arrested during the Nottinghamshire raids on suspicion of fraud by false representation and acquiring/using/possessing criminal property.

The force said the two men have now been bailed with conditions while the investigation continues.

Det Sgt Thomas Rawlings, from Nottinghamshire Police’s fraud unit, said: “Whilst we have made two arrests, we remain in the early stages of our investigation.

"[These] action shows how seriously we take suspected fraud and our investigation into this matter will now continue.”