A NEWPORT man was arrested as part of an ongoing investigation by HM Revenue and Customs (HMRC) into a suspected £35m tax fraud, and money laundering.

In total, seven men and three women were arrested as part of the investigation.

A spokeswoman for HMRC said more than 80 officers from HMRC searched three private and 12 business addresses across the UK on Wednesday, October 4.

Colin Spinks, assistant director of Fraud Investigation Service in HMRC, said: "Tax fraud is often thought victimless but it isn’t; the public lose out on vital funds for essential services.

"We will continue to work with our partners to tackle this crime and ask anyone with information about this kind of activity to contact our HMRC Fraud Hotline on 0800 788 887.”

The spokeswoman said computers and business records were seized during the operation.

She said: "Those arrested were interviewed by HMRC and have been released under investigation. Investigations are continuing."