TWO men have been freed on bail following their arrest on suspicion of being involved in a £2 million VAT fraud.
It is alleged the fraud relates to the transport industry in Northern Ireland and the Republic of Ireland.
HM Revenue and Customs (HMRC) officers carried out searches on private and business addresses in Down and Tyrone on Tuesday as part of a lengthy investigation.
During the raids, officers seized cash and uplifted business records relating to the allegations.
HMRC said they questioned both men and their investigations are continuing.
Head of Investigations John Whiting said: “Anyone concerned in VAT fraud should realise that they face a hefty fine and even a criminal trial and possible conviction.”