(Bloomberg) --
The U.K.'s Serious Fraud Office is investigating the Alpha and Green Park group of companies for suspected fraud and money laundering following a dawn raid, the prosecutor said in a statement.
The Alpha firms are suspected of fraudulently misleading investors into purchasing leaseholds for student accommodation across England, while the Green Park companies are being probed over selling leaseholds for holiday homes in Devon, the SFO said Wednesday.
Over 1,500 investors from 50 different countries invested around 150 million pounds ($202 million) into the leasehold programs on the back of guaranteed returns, but they stopped receiving any in 2018, prosecutor said.
Cops carried out a series of dawn raids, interviews and mandatory requests for evidence Wednesday, following a six month covert investigation.
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