THE investigation into alleged fraud at Initiative Property Management has changed hands from Dorset Police. 

South West Regional Organised Crime Unit (SWROCU) has now taken over the extensive probe into the Dorset business. 

SWROCU was formed in 2010 and covers the five counties in the region. 

It has teams dedicated to investigating economic crime and fraud, including confiscation and asset denial - preventing criminals from accessing their criminal proceeds. 

Providing and update to the Echo, a spokeswoman from SWROCU said the four people who were previously arrested remains under investigation and that no other people have been arrested. 

So far, three women from Bournemouth – aged in their 40s, 60s and 70s – were arrested along with a man in his 30s, also from Bournemouth. 

IPM ceased trading in September. Offering residential block and building management, the firm managed 2,144 flats and apartments – or 175 blocks, in March some in Weymouth.

Company accounts were last filed in November 2022, but only covered up until May 2021 when at the time IPM had current assets of £457,637.   

Steven Richard Greaney, 42, is listed as the sole director.   

Anyone with information that could help the police investigation should contact the county force at www.dorset.police.uk, quoting Operation Interest or occurrence number 55230141924.  

Alternatively, independent charity Crimestoppers can be contacted anonymously online at Crimestoppers-uk.org or by calling Freephone 0800 555 111.