Arrests made over alleged theft of more than $500,000 worth of boats and a caravan

A woman and two men have been arrested over the alleged theft of more than $500,000 worth of boats and a caravan.

Police executed three search warrants in the Echuca area on Friday morning.

They found four Malibu wake boats and caravan, all of which are allegedly stolen.

A 44-year-old man was arrested at a business address on Bilkey Court while a woman, aged 29, was arrested at a private home on Wharparilla Road.

A 37-year-old Echuca man was arrested a short time after.

Two of the boats were allegedly stolen from Bundalong, with police still trying to work out the ownership of the two other boats and the caravan.

The estimated value of the property is in excess of $500,000.

It’s believed one of the boats belongs to V8 supercars champion Mark Winterbottom.

The trio are expected to be interviewed later this afternoon.