THREE ARRESTED IN £1M UNIVERSITY MONEY LAUNDERING PROBE

Greater Manchester Police arrested three people on suspicion of money laundering as part of an investigation into alleged financial irregularities at University of Greater Manchester in Bolton. The arrested individuals comprised two men in their 60s and a woman in her 50s. Both men are also being questioned on suspicion of fraud, with one additionally held on suspicion of bribery. Properties were raided on Wednesday across Bolton, Humberside, West Yorkshire and Lancashire.

The investigation was launched last year following allegations reported by online newspaper The Mill and a subsequent report commissioned from accounting firm Price Waterhouse Cooper by the university. Police allege the fraudulent activity totals more than £1 million. Detectives are analysing approximately 60 transactions and investigating more than one million emails as part of the inquiry. Greater Manchester Police's major incident team is conducting the investigation.

Assistant Chief Constable Rick Jackson stated the arrests represent "a key development in this significant and complex investigation". He said detectives were following every line of inquiry to compile evidence for potential prosecution and were working with the Crown Prosecution Service to provide an initial file of evidence before the end of the year. Jackson stated: "At the heart of this are students whose university experience has been impacted by money that should've been invested in their education instead allegedly being used for personal gain." The university was contacted for comment.