ONE MAN is in custody and police have applied for an arrest warrant for another as part of a huge fraud investigation, with allegations more than $200,000 is missing.
The investigation was only launched by New England detectives last month but involves multiple complainants who claim they have been defrauded of $225,000.
The Express can reveal police have already seized more than $8000 in cash as well as documents they suspect are connected to the fraud probe.
It comes after two raids, the latest which unfolded in Armidale on Friday morning.
Armidale detectives arrested one man at about 7am during a search of a motel room and car in the town.
The 68-year-old is facing two offences and remains in custody, but is not charged with fraud.
"His vehicle was searched locating a quantity of cash, which was seized by police. The male was taken to Armidale Police Station and charged with two counts of dealing in property suspected to be the proceeds of crime," New England Detective Acting Sergeant Mark Rogers told the Express.
The man - who cannot be named for legal reasons - was denied bail late on Friday.
"Police have made several inquiries into the whereabouts of a 31-year-old male who police believe can assist with their inquiries," Detective Rogers confirmed.
"On Friday, police applied for an arrest warrant for that male, and that arrest warrant relates to six offences of dishonestly obtaining a financial advantage by deception."
It's the police case the fraud allegations total $225,000.
Police raided a motel room in Uralla on February 26 as part of the fraud probe and seized a quantity of cash and other items connected to the investigation.
New England police said the investigation had been launched in February into reports of fraud in the Armidale area.
Investigations are continuing.
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