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Anthony Green, aged 46, who owns Flogg It auction house in Catford, south east London, walked free from court along with co-defendants Gillian King, 50, Daniel Knight, 51, and Cyril Charles, 78.

The prosecution offered no evidence and the jury returned not guilty verdicts on all charges on the directions of Judge Robert Prendergast at the Inner London Crown Court.

The four were arrested earlier this year following a two-year investigation in which police seized valuable paintings, silverware, pottery and furniture allegedly taken from country houses and galleries across the country. At least some of the raids had involved violence, with the victims left traumatised.

The police went on to conduct a roadshow of £500,000 worth of recovered items in order to trace their original owners.

One victim was thought to be Petworth silver dealer Nicholas Shaw, who suffered a £1m burglary in July last year, when thieves slashed tyres of police patrol cars at the local police station before removing the grille in a violent raid at the shop in the early hours of the morning.