Grand Theft Auto Online is getting a massive new expansion entitled Further Adventures in Finance and Felony, publisher Rockstar Games announced on 27 May. Described as one of GTA Online's "biggest and deepest updates yet", the update will allow players to become CEO of their own criminal enterprise and expand their organization.

The new expansion builds on last year's Executives and Other Criminals update that was released in December 2015. It will also give players the opportunity to acquire a swanky high-rise office and special warehouse properties to buy and sell contraband across the city of Los Santos.

Players will have to fight off rival organizations in the criminal underworld of southern San Andreas for "access to the rarest items and biggest profits" as well as fend off the LSPD, of course.

"You'll be working with your team from a selection of big new properties that serve as both headquarters for your Organisation and warehouses for your hot merchandise," Rockstar explains.

"Manage inventory directly from your HQ, arranging to buy and sell anything from jewels to narcotics to medical supplies from a range of nefarious suppliers. Expect the unexpected as you head out with your team to make each pickup. Keep your stock in mint condition to maintain value and sell at a profit – and watch for raids on your warehouses between shipments!"

The update will include new gameplay, new features and special new vehicles such as the Pegassi Reaper.

Rockstar has continued to provide regular support for the popular free online component of Grand Theft Auto 5, one of the best-selling games of all time, with consistent fresh updates and content for fans since its release in October 2013.

According to a recent lawsuit filed against Rockstar's parent company Take Two, GTA Online has garnered a whopping $500m in revenue through microtransactions.

The Further Adventures in Finance and Felony expansion is slated for release on 7 June with more details expected to release next week, including an official trailer.