Two men are on bail today after being arrested on suspicion of being involved in a �1million tax and money laundering fraud.

The inquiry is linked with the construction industry.

The suspects, aged 42 and 69, were arrested at their London homes by HM Revenue and Customs officers following a series of early morning raids in Ipswich and London on Wednesday.

A business address and a home in Ipswich were targeted by officers along with private addresses in the Harrow and Ruislip areas of London.

John Pointing, assistant director from HMRC criminal investigation, said: “HMRC criminal investigators have uncovered a suspected million pound tax and money laundering fraud.”

Anyone with information about tax fraud should telephone the HM Customs Hotline on 0800 59 5000.