Seven people have been arrested on the Isle of Man as part of an investigation linked to a gaming company.
The arrests were made following a ‘series’ of police raids at two properties on the island on Wednesday.
The Isle of Man Constabulary has confirmed that the seven individuals have subsequently been released on bail pending.
According to the force, the raids formed part of a ‘wider’ fraud and money laundering investigation linked to King Gaming Ltd. In a statement issued this morning, a spokesman for the Isle of Man Constabulary confirmed that officers executed warrants on business premises on Victoria Road and Bucks Road in Douglas.
The spokesman added: ‘In relation to those warrants seven people were arrested and subsequently released on police bail.
‘A number of people found on the premises at Victoria Road were subject of further immigration interviews involving the IOM Immigration Services and those enquiries are ongoing.
‘This activity is part of a wider fraud and money laundering investigation being led by the IOM Constabulary’s Proactive International Money Laundering and Investigation Team in relation to King Gaming Ltd IOM.
‘Enquiries are being conducted in close liaison with partners within the Islands AML/CFT regulatory and intelligence network to fully investigate these matters.
‘The Constabulary will not be making any further comment in relation to this matter.’
News of the arrests just a day after the island’s gambling regulator revealed it had suspended the licences of King Gaming Ltd as well as Dalmine Ltd.
The Isle of Man Financial Services Authority has also written to separate company with links to the ‘King Gaming group of companies’ telling it to suspend all business.
King Gaming’s registered office is currently based on Bucks Road and the company also operates from premises in the The Summerhill Business Park.
Dalmine is based at the same address on Bucks Road.
In a statement, the Gambling Supervision Commission said it was aware an ongoing criminal investigation into the two companies.
‘The Commission, in fulfilment of its regulatory objectives, has taken the decision to suspend the licences, pending a regulatory review,’ it added.
‘The Commission continues to assist its partner agencies in this matter.’
Meanwhile, the Isle of Man Financial Services Authority has written to Soteria Solutions Limited, a virtual asset business related to cryptocurrency registered on the Isle of Man, telling the firm to stop all business.
According to the authority, Soteria shares directors and officers with the King Gaming group of companies. A spokesperson for the authority it had ‘issued a written direction to Soteria Solutions Limited (“Soteria”) directing that it is to take the action of suspending all designated business undertaken by the firm. ‘
In July last year, King Gaming received planning consent for a major ‘parkland campus’ to house the company’s headquarters on the island.
It was described as the ‘largest single private investment in the Isle of Man’ and would create around 300 jobs, with 100 or so of the company’s workforce to be housed at the Victoria Road site in Douglas.