Four men have been questioned by detectives from the City of London Police who are investigating a suspected £300k commercial property insurance fraud linked to a Sleaford wine bar.
On Tuesday, 23 February, officers from the Insurance Fraud Enforcement Department (IFED) supported by colleagues from the Metropolitan Police, executed dawn raids at five addresses in Enfield, Edmonton, Waltham Abbey and Chingford.
Two men - both aged 32 - were arrested at an address in Chingford and a 28-year-old man was arrested in Edmonton. All three were arrested on suspicion of conspiracy to defraud and money laundering offences and have since been bailed until late May pending further enquiries.
A 29-year-old man also voluntarily attended a central London police station and he was interviewed under caution in connection with the investigation.
The arrests were made after IFED launched an investigation into a suspected fraud linked to insurance claims, including loss of earnings and material damage, by owners of ‘The Lounge’ wine bar in Sleaford, Lincolnshire following extensive water damage at the venue.
However, investigators for the insurer suspect that the bar was never open and operating as a business and the insurance claim, which is in the region of £100k, is suspected of being fraudulent.
The case was referred to IFED detectives and officers are also now investigating two other similar claims made at different times with other insurers linked to the same venue.
Detective Chief Inspector Oliver Little, who leads the Insurance Fraud Enforcement Department said: “This is the first case of this type that has been referred to IFED, where a business has made insurance claims for material damage and loss of earnings, but it appears that the business was never even open or operating.
“We’re still investigating to establish the extent of this fraud, but it highlights that fraudsters are continually looking for new ways to con businesses and people out of money.”