The Manx government says it will not hesitate to take action to protect the island from ‘those who stand to jeopardise and abuse’ our international reputation.
It issued a statement following revelations that scammers operating from the Isle of Man fleeced more than £4m from victims through an investment fraud.
Six people have been convicted of fraud in a court in China for the scam, which took place between 2022 and 2023.
They had worked for a company called Manx Internet Commerce (MIC), registered at Bucks Road in Douglas.
MIC was part of a group of companies which included e-gaming firm King Gaming whose offices including those at Bucks Road were raided in April this year as part of investigation into allegations of fraud and money laundering.
Seven people were arrested and the island’s Gambling Supervision Commission moved to cancel King Gaming’s licence.
A lengthy investigation by BBC World Service found that 100 people had been transferred to the Isle of Man to work for MIC and initially operated from a former hotel close to Douglas seafront before being moved to former bank offices off Victoria Road.
A spokesman for the Manx government said: ‘The Isle of Man Government is aware of increased media reporting surrounding a business that operated on the Island, which has been subject to significant multi-agency responses to disrupt and close down alleged international criminal activities.
‘The Isle of Man Government, and all of its relevant agencies and bodies, has a zero-tolerance attitude towards such activities and remains committed to being a respected international partner in terms of global efforts to identify, disrupt and prevent international criminal activity.
‘Maintaining the Isle of Man’s international reputation as a trusted and respected jurisdiction is of the utmost importance, and the Isle of Man Government will not hesitate to act to protect this in the face of those who stand to jeopardise and abuse it.
‘The robust response by the Isle of Man Constabulary, Gambling Supervision Commission and other government agencies that led to the disruption and closure of businesses at the centre of these concerns demonstrates that, as an Island, matters of this nature are taken extremely seriously and that government will not hesitate to act in such situations.
‘As the various matters are subject to ongoing criminal investigations, we are unable to offer any further comment at this stage. We do, however, wish to reaffirm that significant and wide-reaching action has been taken and that the businesses involved at the centre of these allegations are no longer in operation as a result of the actions taken by government.’