Solicitor jailed for money laundering and mortgage fraud - Wales
A solicitor from Swansea has been jailed for four years and eight months for money laundering and undertaking £650,000 worth of fraudulent mortgage transactions.
Benjamin Cornelius acted on behalf of his friend, David Carl Richards to fraudulently secure mortgage advances and launder the proceeds of crime through the purchase of properties in the Neath and Swansea Valleys. Richards, who is already serving a 12 year sentence for drug trafficking, pleaded guilty to fraud and was sentenced to 30 months to run alongside his current sentence.
At the time of the offences, Cornelius worked at W Parry & Co. The court heard that Cornelius disguised his involvement in the fraud and laundering process, misleading his employer and various financial institutions.
The Solicitors Regulation Authority worked closely with detectives in South Wales to convict Cornelius and have been praised for their part in the investigation.
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Accountant jailed for prejudicing an investigation – Sunderland
A company director of Sunderland accountancy firm Otax has been jailed for 18 months for telling a client about a covert money laundering investigation being undertaken by Northumbria Police.
While a tipping off offence applies for telling a person that a suspicious activity report has been made to the Serious Organised Crime Agency, there is a separate offence for prejudicing an investigation under s342 of the Proceeds of Crime Act. Kishor Doshi was convicted on the basis that he potentially prejudiced a police investigation when he informed a client that he had received a production order for the release of information on the client's finances. Doshi also pleaded guilty to failing to comply with money laundering regulations by not registering with HM Revenue & Customs.
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PCSO jailed for laundering cash from a brothel – Hertfordshire
A police community support officer (PCSO) has been jailed for nine months after he laundered tens of thousands of pounds from a brothel run by his prostitute wife. Sean Griffin and his wife, Debbie earned profits of £116,000 from the prostitution racket and used the cash to pay off the mortgage on their home.
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Gang laundered £1m a month through Birmingham banks
A gang who ran a racket to launder £1m of drugs money through Birmingham banks every month have been jailed. The gang used a method of money laundering known as 'cuckoo smurfing'.
This involves corrupt money bureau staff in foreign countries siphoning off UK money transfers to bank accounts that the criminals can access.
After being tipped off by money bureau staff as to the amount of the payment and the recipient's name, the criminals then go into the bank and pay into the account dirty drugs money that they have collected in the UK.
The gang, which ran the racket from a house in Birmingham, were being closely monitored by undercover Serious Organised Crime Agency officers. The investigation resulted in the seizure of £600,000 and 20 kilos of heroin.
Three men from Birmingham who ran the racket have been jailed for a total of 16 years. Four others have been convicted for helping the gang, including two men from Manchester.
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Gang involved in £48m money laundering scam jailed
Meanwhile, another gang based in the West Midlands and London who were responsible for laundering more than £48m of criminal profits have been jailed for 24 years following an international investigation by HM Revenue & Customs.
The gang used an online money transfer business as a front to clean up huge amounts of cash from criminal clients which was sent to Dubai and then, it is believed, Pakistan. They used couriers to collect the dirty money from criminals based all over the UK and then deposited the money into different branches of UK banks in amounts of £25,000 or less.
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£10m fuel laundering scam – Bedfordshire
A fraudster has been jailed for four years over his involvement in a £10m fuel duty and money laundering scam. Brian McAtevey played a key part in the fraud that involved laundering low duty fuels to remove the chemical marker and then selling them on as legitimate duty paid road diesel. The criminal profits were then moved through various business bank accounts and cheque cashing companies in an attempt to disguise their origins.
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Father and son jailed for money laundering – Glasgow
A father and son have been jailed for 30 months and one year respectively, after being found guilty of offences under the Proceeds of Crime Act 2002. The men were found to have been involved in laundering money generated from crime through currency exchange premises in an attempt to conceal its origins.
The men were arrested following an investigation by the Scottish Crime and Drug Enforcement Agency.
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