The 33-year-old man from Banbury arrested after police carried out warrants for fraud offences yesterday (Tuesday) has been released on bail.
Thames Valley Police officers and Trading Standards officers executed the warrants at about 6am at addresses in Oxford and Banbury.
The man has been arrested on suspicion of conspiracy to defraud, failure to comply with a requirement of the Money Laundering Regulations 2007, fraud by false representation, trader engagement in a commercial practice which is a misleading action containing false information, and knowingly or recklessly engaging in a commercial practice as a trader.
He has been bailed until April 22.
Anyone with information about fraud or trading standards offences should call police on 101.