The [police] spokesman said the operation centred on an ongoing investigation into a fraud affecting mortgages taken out on more than 500 properties in the south of England between 2005 and 2007. A police spokesman refused to comment on the specific allegations that the inquiry centred on. "We cannot comment on this particular case but cases such as this often involve allegations of over-valuing of properties by complicit professionals, such as solicitors and surveyors," he said.

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