A massive police operation in Hackney has seen two men arrested over a suspected £15 million cryptocurrency scam and money laundering plot.
In dramatic early morning scenes today (May 7), officers stormed six properties across Stamford Hill, including a major raid on Castlewood Road, as part of Operation Galafarm – the Met Police’s major crackdown on economic crime.
A 25-year-old and a 36-year-old man were arrested and dragged into custody, with pictures showing Territorial Support Group (TSG) officers unloading riot gear and swarming the quiet residential street.
The Met believes millions of pounds were laundered through a network of bogus shell companies linked to a sophisticated crypto-fraud operation targeting innocent members of the public.
A spokesperson for the Metropolitan Police confirmed:
Two men have been arrested as part of a Metropolitan Police investigation into a multi-million pound fraud and money laundering scheme… It is alleged more than £15m in stolen funds was laundered through a set of shell companies.
Both suspects remain in custody today as detectives from the Met’s Economic Crime Command continue their investigations.
