Five people have been arrested in a fraud investigation into the sale of four mining sites in south Wales.

Five people have been arrested in a fraud investigation into the sale of four mining sites in south Wales.

Eight properties were searched in the operation, which is being led by the Serious Fraud Office.

Those arrested included three men from south Wales aged 65, 36 and 31, a London man, 47, and a Birmingham woman, 28. All have been released on bail.

Seven residential properties were searched - five in south Wales, one in London and one in Birmingham.

One business premises in south Wales was also searched.

Investigators are looking into allegations of conspiracy to defraud relating to the sale of each of the sites.

More than 90 Serious Fraud Office investigators and officers from South Wales Police, Gwent Police, the Metropolitan Police and West Midlands Police have been involved in the inquiry.