Safe deposit search completed

2:25pm Thursday 12th June 2008

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POLICE have finished searching thousands of boxes in three safe depositories under investigation.

They were raided on Monday, June 2, as part of a large investigation into possible criminal possessions being stored in safe deposit boxes.

The premises, including one in Manor Park Crescent, Edgware, have been surrounded by armed police for the last ten days as each box is searched and catalogued.

Officers finished going through almost 7,000 boxes today, seizing around £53.5m in cash, four hand guns, large amounts of ammunition, fraudulent documents, drugs including crack cocaine, cannabis, and opiates, images of child abuse, and documents used for fraud and human trafficking.

They found large amounts of gold in different forms, including six suitcases filled with sacks of gold dust.

Officers also discovered three 17th Century Dutch paintings, and a 20th Century portrait by a Russian artist.

Each box has been treated as a potential crime scene, and all the items removed have been taken under armed convoy to a secure location to be analysed.

Around 1,800 separate investigations will now be conducted based on items found in the boxes.

Officers have said some of the cash was found stuffed into plastic carrier bags, and will be forfeited because they believe it has been earned through crime.

A large amount of jewellery was seized by police, and they said the majority appears to have been stored legitimately.

A freephone number, on 0800 030 4613, has been set up by police for people to call to retrieve their items stored legitimately.

Five people have been arrested as part of the operation. Two men and a woman were arrested on suspicion of money laundering and bailed until September.

Two men were also arrested for obstruction but later released without charge.