Former bank manager fraud charges

Peter Cregan was arrested in Silverbridge on Tuesday

A former bank manager from Silverbridge has been charged with a series of offences including fraud and money laundering.

Peter Cregan, who worked at the Newry branch of First Trust bank, was arrested in County Armagh on Tuesday.

A 52-year-old man has also been charged with a number of offences including conspiracy to defraud.

It is understood police have forwarded a file on Mrs Cregen to the Public Prosecution Service.

When they made the arrests, police said they were investigating a £3m fraud.

Officers searched a number of properties in Counties Armagh and Tyrone and searches were also carried out by the Irish police in Louth and Monaghan.

A substantial number of documents and equipment was seized.