Fraud Investigation

Fri, 2024-05-10

The Financial Crime Unit of the Bermuda Police Service carried out a pre-dawn operation on Wednesday, May 8th, 2024, in relation to an ongoing investigation into persons defrauding a financial institution and one of its clients of a significant sum of money.

Warrants executed at different locations across the island, resulted in the arrests of three suspects who are currently in police custody.

A quantity of cash as well as other items believed to be the proceeds of crime were recovered during the execution of those warrants.

The investigation into this matter remains ongoing and those arrested will be appearing before the courts in due course.

Detective Chief Inspector Jason Smith of the Specialist Crime Division stated, “I wish to thank those persons who came forward and provided information which enabled Investigators to make significant headway with this matter. Their assistance has proven invaluable in putting a stop to an illegal activity which may have otherwise remained unknown to police.”

“This type of partnership benefits the entire community as it enables us to bring perpetrators to justice and in so doing make Bermuda safer.”