Last week, a search warrant was executed by SFO officers at an address in Dorset where watches branded as Patek Philippe, Rolex and Hublot - worth over £500,000 if authentic - were seized. 

The warrant was obtained on suspicion that the watches, along other items, had been acquired using proceeds of a crime.

This is linked into the investigation of a suspected £76m care home fraud scheme, with the SFO raiding two sites and making three arrests in March 2024.

The fraud case targets UK developer Carlauren Group that collapsed in 2019.

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According to the SFO, over four years, the developer purchased 23 properties across the UK — mostly former hotels — offering an annual 10% return on investment in the renovation of the properties into high-end care homes.

Over four years, the company purchased 23 properties across the UK, offering an annual 10% return on investment in its renovation of these properties into high-end care homes. Only nine were ever operational. 

Commenting on the seizure of the watches, Nick Ephgrave QPM - director of the SFO - said: “We work hard to recover criminal assets and prevent suspected offenders from enjoying – or concealing – the spoils of their crimes.

“Many investors remain affected by the collapse of the Carlauren Group and we are progressing our investigation at pace to deliver justice for them."