Police investigating transfers of huge sums of money thought to involve the Abbey National's offices in Bradford have arrested nine people.

The alleged fraud is believed to centre around the bank account of Sir Terence Conran, the founder of Habitat.

West Mercia Police have confirmed that they are investigating transfers of large sums of cash to accounts in Worcester-shire.

Abbey National has also confirmed there is an investigation and the office of Sir Terence Conran said his bank account was involved.

It is thought that the police investigation is into alleged irregular transfers of up to £1 million and attempts to divert another £9 million.

Staff at the firm's northern headquarters at Nelson Street in Bradford are believed to have found out about the investigation when four workers were escorted from the building.

A spokesman for West Mercia Constabulary confirmed their economic-crimes unit was investigating the transfers of large amounts of money into Abbey National accounts at Kidderminster.

"These inquiries are centred in Kidderminster in Worcester-shire and West Yorkshire," he said.

"Two women and seven men have been arrested for theft and conspiracy to defraud.

"All nine have been interviewed and bailed pending further inquiries. No one has been charged at this time and inquiries are ongoing."

A spokesman for Abbey National said: "I can confirm that there is an investigation. We do take this extremely seriously and we will do everything we can to resolve it."

The spokesman said the investigation was focused on West Yorkshire and Kidderminster. He said he could not discuss individual customers' accounts.

However, a spokesman for Conran Ltd confirmed the probe involved Sir Terence's account but said he could not comment any further than that.

Abbey National employs 1,700 people at its Bradford office, the regional headquarters.

The former building society is now Britain's sixth largest bank.

The firm's old city centre base, Provincial House, was sold in 2000 and has since been demolished.