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Officers from GMP's Volume Fraud Team conducted warrants this morning at an address in Sheffield, in connection with a building services fraud.
A 36-year-old man has been arrested on suspicion of four counts of Fraud by False Representation and following searches of the property, a number of high value watches have been seized, along with a Range Rover.
Three victims living in the Greater Manchester Area (Wigan, Bolton, and Fallowfiled) and one from Newcastle-under-Lyne, had been approached by a man claiming to be a tradesman, who they then hired to complete work on their homes.
They would agree payment in installations, and the tradesman would being work. After a small portion had been done, a second payment would be made, but the work would not be continued.
Detective Chief Inspector Joe Harrop from the Economic and Cyber Crime Unit, said: "These people have been left with empty pockets, and half-done home improvements, and we will continue to investigate to ensure the person responsible is held accountable.
"The impact of this kind of crime cannot be understated, and can have devastating consequences on people's lives.
"However our investigations rely partly on the intelligence we receive from the public - so I would like to take this opportunity to appeal to anyone with any concerns, or if you're in a situation where something doesn't feel quite right, to please get in touch with police. The more information you give, means we can do more to protect vulnerable people within our communities. Thank you."
Anyone with any information or concerns should contact police or the independent charity, Crimestoppers, anonymously on 0800 555 111.