Fraud probe: Second person bailed on Isle of Man
A second person has been bailed on the Isle of Man as part of an ongoing investigation into a suspected £21m tax fraud investigation, said Manx police.
It relates to a probe by the UK's HM Revenue & Customs (HMRC), Guernsey Border Agency and the Manx and Cheshire Constabularies.
Police said the man who was bailed on the island on Thursday had also been bailed in the UK earlier this week.
Raids have been taking place in the Isle of Man, the UK and Guernsey.
An Isle of Man police spokesman said "significant amounts of cash and business records" had been seized as part of what is now known as Operation Bannock.
Diane Donnelly from the HMRC, said: "Tax fraud is not a victimless crime and every year costs millions of pounds in lost revenue that should be funding public services.
"No one agency can tackle this alone and we are committed to working with our partner agencies in the UK and abroad to target those who try to attack our tax system."