Vehicle Crime Squad detectives have executed three warrants and arrested three people this morning in relation to the alleged theft of two Ferraris in November.
Both of the Ferraris were allegedly stolen from an Industrial area in Braeside around 3.40am on 6 November.
The vehicles were later located burnt out, one in Langwarrin and the second in Frankston.
The Ferraris had a combined value in excess of $2 million dollars.
Investigators made the following arrests this morning:
A 34-year-old Frankston man;
A 33-year-old Langwarrin woman; and
A 36-year-old woman from Skye.
A fourth man, a 32-year-old from Frankston, was also arrested on unrelated matters.
They are all currently in custody assisting with enquiries.