The investigation, led by the Kent and Essex Serious Crime Directorate has been running since early December 2012 and is looking at fraudulent activity in excess of £1m.Police have been working with Essex County Council Trading Standards and Adult Social Care.
The warrants were executed earlier this morning, at addresses in the Colchester and Clacton areas. A team of 65 officers is involved. Police say they are building a case around 39 victims whose ages range from 65 and 99-years-old.
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22 Albatross boats, glamorised by the likes of Brigit Bardot and Prince Rainier, are sailing in Norfolk and Suffolk this weekend.