The Serious Fraud Office (SFO) also arrested three people after carrying out raids in St Leonard’s, Dorset, and Aylesbury, Buckinghamshire.

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It came as part of an investigation into property development firm the Carlauren Group.

Some elderly residents were forced to leave their homes when the group collapsed in 2019 and 600 investors were left out of pocket.

Carlauren bought 23 properties across the UK – including the historic Windlestone Hall in Durham – to turn into luxury care homes.

Hundreds of moguls and companies handed over cash to fund rooms that would be rented to elderly residents.

In return, Carlauren promised a guaranteed annual payout and the opportunity for investors to sell the asset back after ten years for up to a 25 per cent profit.

They boasted the properties would include high-end facilities – including swimming pools and room service.

But just nine of the premises operated as care facilities, while some continued as hotels.

The SFO said the group purchased three high-performance sports cars — two Lamborghinis and a Mclaren 570GT – and a private jet.

Carlauren, who also allegedly purchased two yachts, claimed the lavish items were for company use.

Nick Ephgrave QPM, director of the Serious Fraud Office, said: “This company’s abrupt collapse has created turmoil and enormous anxiety for many, with elderly people forced to vacate their homes and investors left with nothing.

“Today’s arrests are a major development in our investigation and a step towards getting the answers so many people need.”