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UK arrests four more in suspected CO2 tax probe

LONDON (Reuters) - British tax investigators arrested four more people on Thursday they said were believed to be connected to a 38 million pound ($54.5 million) suspected tax fraud in European carbon credit trading.

LONDON (Reuters) - British tax investigators arrested four more people on Thursday they said were believed to be connected to a 38 million pound ($54.5 million) suspected tax fraud in European carbon credit trading.

The HM Revenue and Customs (HMRC) investigators also found firearms and large amounts of cash during the early morning raids on seven properties in London and Leicester areas, the agency said in a statement.

"These arrests are the result of the hard work that our investigators have carried out during a sustained and complex 15 month operation," said Chris Martin, an assistant director at the HMRC.

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