LAW Society chiefs today moved to reassure Burnley people after police launched a second investigation linking local solicitors to alleged money laundering.

Two solicitors, aged 43 and 47, and an accountant were among five people arrested yesterday as part of the latest probe.

The two solicitors both work at Farnworths, Finsley Gate, Burnley, and were arrested at their homes.

An accountant, aged 53, who works in Burnley and a male, aged 44, and and a 31-year-old female, were also arrested as part of the same investigation. All five people have now been released on police bail pending further inquiries.

Earlier this month Burnley solictor Basil Dearing, 60, a senior partner at SFN solicitors, appeared before Preston magistrates court charged in connection with an unrelated probe into the alleged transfer of proceeds of drug trafficking.

He is due to appear Preston Crown Court on April 29. Invesigations into that case began after the break-up of a drug dealing gang known as The Firm.

Andrew Payne, president of the Burnley and Pendle Law Society, said that new legislation brought in under the Proceeds of Crime Act 2002, had made it difficult for practising solicitors.

He added: "The new legislation that has been brought in has created a huge amount of red tape.

"These people may very well have not have done anything wrong. Being a solicitor at the moment is a dangerous job.

"Under the Proceeds of Crime Act 2002 introduced in March, it has changed from solicitors having to report any suspicions of their clients being involved in drugs or terrorism to them having to report suspicions of their clients being involved in any crime.

"The message is to be extremely cautious. The police will have to establish whether the solicitor had reasonable grounds to suspect any criminal activity when dealing with the client."

Farnworths today issued a statement confirming that they were co-operating with the police investigation.

A spokesman said: "The police investigation at the firm forms part of a wider investigation into one of our former clients. We would like to make it clear that we are fully co-operating with the police to assist these investigations.

"However, at this stage we are unable to say any more about the situation, as we do not want to prejudice the police inquiries."

A number of homes and commercial premises were being searched yesterday by officers from across Lancashire.

Geoffrey Negus, national spokesman for the Law Society, said it was 'extremely unusual' for solicitors to be arrested. He added that the society would only launch an investigation into a solicitor's conduct if they had been convicted of an offence.

He added: "Every year the Law Society receives around 4,000 complaints about solicitors and the vast majority come from solicitors themselves.

"That fact alone should reassure the people of Burnley. Solicitors and other members of the profession are encouraged to report suspicions of criminality to the Law Society.

"Most are keen that the industry remains as clean as possible."