A number of large scale arrests for alleged money laundering
took place in the UK in the past two months, some of which may
feature in in coming editions of Launderers in the news should
convictions be secured. Here is a round up of those actually
convicted for money laundering in the last two months in the UK
.
Drug gang boss jailed - London
A criminal gang with cannabis factories in Gloucester set up a
money services bureau in London 's Chinatown to launder 350
million over 17 months. The leader of the gang had been jailed for
money laundering in Hong Kong . This caused him to be disqualified
as a 'fit and proper person' to run a money services bureau
under the Money Laundering Regulations 2007. He sought to continue
operation of the business by creating a 'twin brother' in his
application to HMRC. He was convicted of fraudulent trading and
sentenced to a further eight months imprisonment.
Read more
Former Nigerian governor, wife and lawyer convicted of money
laundering
James Iboi, a former governor of one of Nigeria 's oil producing
states has pleaded guilty to ten counts of money laundering and
conspiracy to defraud. His wife, mistress and solicitor were all
convicted of money laundering last year. His solicitor received 10
years jail for laundering $37million through off-shore companies
and investment properties.
Read
more
Bike hire fraudsters convicted of money laundering
Two individuals working for the London cycle hire scheme
unlawfully made dozens of bogus refund payments to seven friends.
They were convicted of fraud, while the friends all admitted money
laundering. They will be sentenced in May.
Read
more
Welsh drug gang of 22 convicted - only one charged with money
laundering
Police have dismantled a sophisticated drug operation which had
been running for six months in North Wales . The drugs were sourced
from Liverpool and Sheffield and then distributed across North
Wales , with the operation being run from inside Altcourse prison.
Twenty-two individuals were convicted, receiving prison sentences
from 15 months to 12 years, although only one member of the gang
was convicted of money laundering.
Read
more
Family home recovered under civil recovery powers
A high court judge has ruled that a Cheshire businessman used
illicit profits to purchase his family home and must hand it over
to the Serious Organised Crime Agency. The business man had
purchased the property via a third party, then purported to rent
the property from the third party, before purchasing it with a 100%
mortgage with his partner. His partner claimed that even if the
businessman's interest in the house was recoverable, because she
had lived there for a number of years and contributed to living
expenses, her interest should not be recoverable. The court held
that the whole of the property was recoverable.
Read the press release from SOCA
Read the
court decision