Archive for the 'money laundering' Category

PCSO jailed after laundering cash from brothel – Daily Telegraph

“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.”

Full story

Daily Telegraph, 21st March 2011

Source: www.telegraph.co.uk

Prostitution ring boss Thomas Carroll faces £1.9m order – BBC News

“A man who ran an international prostitution ring has been told to hand over nearly £2m of his criminal profits or face another 10 years in jail.”

Full story

BBC News, 14th March 2011

Source: www.bbc.co.uk

Safety deposit pair who held millions for gangs jailed – BBC News

“The director of three safety deposit box centres in London has been jailed for four-and-a-half years after raids in which police seized £500m in assets.”

Full story

BBC News, 7th March 2011

Source: www.bbc.co.uk

Sports editor jailed for £370k scam – The Independent

“A former sports editor was jailed today after defrauding a national newspaper of more than £370,000.”

Full story

The Independent, 7th February 2011

Source: www.independent.co.uk

Grantham lawyer jailed for theft and money laundering – BBC News

“A Lincolnshire solicitor who stole £214,000 from clients including her grandmother, has been jailed for three years.”

Full story

BBC News, 13th January 2011

Source: www.bbc.co.uk

Respected police sergeant led double life as ‘mob boss in uniform’ – Daily Telegraph

“Salim Razaq, 31, became a ‘mob boss in police uniform’ after taking charge of a drug and money-laundering racket when his younger brother, Hafiz, was jailed for kidnapping a rival gang member during a brutal turf war.”

Full story

Daily Telegraph, 5th November 2010

Source: www.telegraph.co.uk

Bar regulator introduces monitoring scheme – Bar Standards Board

“The BSB is launching a scheme to monitor all chambers and sole practitioners. This is following a successful pilot scheme that took place in 2008.”

Full story

Bar Standards Board, 18th October 2010

Source: www.barstandardsboard.org.uk

Surrey rogue trader jailed for defrauding elderly – BBC News

“A rogue trader has been jailed for more than five years in what is thought to be the longest term handed out for a trading standards prosecution.”

Full story

BBC News, 14th September 2010

Source: www.bbc.co.uk

Ten years in jail for immigration fraudster – Home Office

“A Hounslow man was today jailed following a UK Border Agency investigation which revealed he set up bogus companies to allow immigrants to extend their visas.”

Full press release

Home Office, 14th September 2010

Source: www.homeoffice.gov.uk

Ex-boss jailed for stealing £250,000 from charity – The Independent

“A former senior official at a charity founded by the Prince of Wales was jailed for three years today after he admitted stealing £250,000.”

Full story

The Independent,

Source: www.independent.co.uk

RBS handed FSA’s biggest fine for money laundering lapses – The Guardian

“Royal Bank of Scotland has been fined £5.6m by the Financial Services Authority for failing to adequately screen customers and payments to prevent its banks – RBS, NatWest, Ulster Bank and Coutts – from being used for money laundering or the financing of terrorist activities.”

Full story

The Guardian, 3rd August 2010

Source: www.guardian.co.uk

Regina v Rollins – WLR Daily

Regina v Rollins [2010] UKSC 39; [2010] WLR (D) 210

“The power of the Financial Services Authority to institute criminal proceedings was not limited to the offences referred to in ss 401 and 402 of the Financial Services and Markets Act 2000; in particular the FSA had power to prosecute offences of money laundering under ss 327 and 328 of the Proceeds of Crime Act 2002.”

WLR Daily, 30th July 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Romanians jailed for making their children beg and steal – The Guardian

“A Romanian couple who exploited their seven children as beggars and thieves in and around London have been jailed at Reading crown court for two and a half years for child cruelty.”

Full story

The Guardian, 30th July 2010

Source: www.guardian.co.uk

Financial adviser jailed over Teesside pensions fraud – BBC News

“A financial adviser who defrauded vulnerable and elderly clients on Teesside out of more than £300,000 has been jailed for three years.”

Full story

BBC News, 22nd July 2010

Source: www.bbc.co.uk

Property salesman jailed over money laundering – The Independent

“A man who tried to smuggle nearly £60,000 of cash out of the country in his underpants was jailed for four years today.”

Full story

The Independent, 3rd March 2010

Source: www.independent.co.uk

Shah and another v HSBC Private Bank (UK) Ltd – WLR Daily

Shah and another v HSBC Private Bank (UK) Ltd [2010] EWCA Civ 31; [2010] WLR (D) 27

“Where a bank claimed, for the purposes of the Proceeds of Crime Act 2002, to entertain ‘suspicion’ about money-laundering concerning a proposed transaction on a customer’s account, and had failed to carry out instructions promptly, a customer might be entitled to proceed with a claim in breach of contract or duty.”

WLR Daily, 5th February 2010

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Couple jailed for multi-million prostitution ring – The Independent

“A couple who ran a multi-million-pound prostitution ring of trafficked young women and girls were behind bars today.”

Full story

The Independent, 4th February 2010

Source: www.independent.co.uk

Drugs gang ringleader sentenced – BBC News

“A 37-year-old man from Kent who was the ringleader of an international crime gang smuggling illegal drugs into the UK has been jailed for nine years.”

Full story

BBC News, 15th October 2009

Source: www.bbc.co.uk

Regina v Rollins; Regina v McInerney – WLR Daily

Regina v Rollins; Regina v McInerney

“The Financial Services Authority had the power to prosecute offences beyond those referred to in ss 401 and 402 of the Financial Services and Markets Act 2000 and, in particular, it had the power to prosecute for offences contrary to ss 327 and 328 of the Proceeds of Crime Act 2002.”

WLR Daily, 13th October 2009

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

HM Treasury announces call for evidence, to inform Review of Money Laundering Regulations 2007 – HM Treasury

“HM Treasury has today published a call for evidence on the Money Laundering Regulations 2007 and of the UK’s anti-money laundering policies and procedures under them. The Call is designed to help inform a review of the Regulations, and look at how effective and proportionate the UK’s anti-money laundering rules are.”

Full story

HM Treasury, 9th October 2009

Source: www.hm-treasury.gov.uk

Drugs money launderer hid £500,000 in washing machine – The Independent

“A crime boss who tried to launder more than £500,000 of drug money using a washing machine was jailed for four and a half years today.”

Full story

The Independent, 25th August 2009

Source: www.independent.co.uk

Football is ‘vulnerable’ to money laundering, but no names named – The Guardian

“Today’s report by the Financial Action Task Force raises the spectre, in calm, plain language, that football is vulnerable to criminals, who might take over beloved local clubs or use the transfer system to launder dirty money or evade tax.”

Full story

The Guardian, 1st July 2009

Source: www.guardian.co.uk

Man jailed for role in drug ring – BBC News

“The first man to be extradited from Colombia to the UK has been jailed for five-and-a-half years for helping a drugs ring launder its huge profits.”

Full story

BBC News, 29th June 2009

Source: www.bbc.co.uk

Man jailed over erectile dysfunction drugs – The Independent

“A former bankrupt businessman who funded a luxury lifestyle by selling millions of pounds worth of unlicensed Viagra-like drugs over the internet was jailed for two years yesterday.”

Full story

The Independent, 9th June 2009

Source: www.independent.co.uk

Regina v Darwin (Anne) Regina v Darwin (John) – Times Law Reports

Regina v Darwin (Anne) Regina v Darwin (John)

Court of Appeal (Criminal Division)

“In sentencing for fraud, a judge was right to take into account the harm done to individuals who might not have lost financially but on whom the crime had had a devastating impact.”

The Times, 1st April 2009

Source: www.timesonline.co.uk

Mastermind of Britain’s biggest stolen car ‘ringing’ scam jailed – Daily Telegraph

“The mastermind behind Britain’s biggest stolen car ‘ringing’ operation, worth more than £38 million, has been jailed for six-and-a-half years.”

Full story 

Daily Telegraph, 12th March 2009

Source: www.telegraph.co.uk

Drugs boats fraud woman sentenced – BBC News

“A mother-of-three, whose business made more than £20m from selling high speed boats to drugs cartels, has been given a two-year suspended prison sentence.”

Full story 

BBC News, 5th March 2009

Source: www.bbc.co.uk

FSA fines manager in anti-money laundering failure – The Times

“The Financial Services Authority (FSA) has fined a senior manager of Sindicatum Holdings, the financial advisory and asset management firm, nearly £20,000 for failing to have adequate anti-money laundering controls in place.”

Full story

The Times, 29th October 2008

Source: www.timesonline.co.uk

Regina v Mehta; Regina v Sharman; Regina v Reardon; Regina v Ratcliff – Times Law Reports

Regina v Mehta; Regina v Sharman; Regina v Reardon; Regina v Ratcliff

Court of Appeal (Criminal Division)

“Money-launderers who offered a service to numerous criminals via bureaux de change or hawala banking were often as culpable as the criminals generating the money, if not more so, and often more culpable than those who handled the proceeds of a particular fraud.”

The Times, 3rd October 2008

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

Canoeist wife launches appeal bid – BBC News

“Anne Darwin, the wife of canoeist John Darwin, has lodged an appeal against her conviction and sentence for fraud and money laundering.”

Full story

BBC News, 12th August 2008

Source: www.bbc.co.uk

Six jailed after laundering £15m – BBC News

“Six businessmen have been jailed for laundering more than £15m stolen from NatWest bank.”

Full story

BBC News, 7th August 2008

Source: www.bbc.co.uk

Church conmen jailed for £3.2m swindle of faithful – The Times

“A gang of Seventh-Day Adventists who conned millions of pounds from fellow churchgoers to fund a life of wild extravagance have been jailed.”

Full story

The Times, 11th March 2008

Source: www.timesonline.co.uk

Good intentions going up in smoke? – The Times

“It is only just over six weeks since the new regime came into force — but already cracks have begun to emerge in the regulations to clamp down on money laundering by fraudsters and terrorists. The regime is proving costly to implement and risks catching innocent people in its net. But is it proving its worth?”

Full story

The Times, 29th January 2008

Source: www.timesonline.co.uk

Believers lost “lost £3million to Christian conmen” – The Times

“A gang of Seventh-Day Adventists in London conned their fellow churchgoers into giving them millions of pounds to invest, which they then spent on luxury flats, holidays and cars, a court was told yesterday.”

Full story

The Times, 9th January 2008

Source: www.timesonline.co.uk

Money Laundering Regulations – Guidance for the Bar – The Bar Council

“The Money Laundering Regulations came into force in December 2007. New Guidance has been issued by the Bar Council.”

Full story

The Bar Council, 18th December 2007
Source: www.barcouncil.org.uk

Corrupt lawyer to drug world is facing prison – The Times

“A corrupt solicitor who was at the heart of a criminal network that made multimillion-pound profits from the heroin trade will be jailed today.”

Full story

The Times, 5th December 2007

Source: www.timesonline.co.uk

New anti-laundering rules prove ineffective – The Lawyer

“The move to a risk-based approach to anti-money laundering regulation has yielded little fruit, according to new research.”

Full story

The Lawyer, 3rd September 2007

Source: www.thelawyer.com

When e-money providers must verify identity: new guidance – OUT-LAW.com

“The Joint Money Laundering Steering Group (JMLSG) has published draft amended guidance for electronic money. It covers products that are card-based as well as those that are entirely software-based.”

Full story

OUT-LAW.com, 28th August 2007

Source: www.out-law.com

New money laundering rules will lead to more red tape, law firms warn – The Times

“Regulations set to come into force in December will be costly and could lead to a drop in competitiveness, according to a survey.”

Full story

The Times, 26th July 2007

Source: www.timesonline.co.uk

Government toughens Money Laundering Regulations – HM Treasury

“Today the Economic Secretary, Kitty Ussher, published new tough and targeted Regulations to fight Money Laundering and Terrorist Financing. The Money Laundering Regulations, which will come into effect on the 15th December, are designed to ensure the UK response to money laundering at home and abroad is effective and proportionate.”

Full story

HM Treasury press release, 25th July 2007

Source: www.hm-treasury.gov.uk

Ordre des barreaux francophones et germanophones and Others v. Conseil des Ministres (Conseil des barreaux de l’Union europeénne and Ordre des avocats du barreau de Liège, interveners) – Times Law Reports

Obligation on lawyers to help combat money laundering

Ordre des barreaux francophones et germanophones and Others v. Conseil des Ministres (Conseil des barreaux de l’Union europeénne and Ordre des avocats du barreau de Liège, interveners) Case C-305/05

Court of Justice of the European Communities

“Advice and assistance given by lawyers in financial and real estate transactions that had no link with judicial proceedings were not exempt from the duty to cooperate in combating money laundering.”

The Times, 2nd July 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

Exile Berezovsky stays in London as Moscow puts him on trial – The Guardian

“The former oligarch and arch-critic of the Kremlin Boris Berezovsky is to go on trial in Moscow today accused of money laundering and embezzlement, in a case likely to put further strain on UK-Russian relations. Mr Berezovsky will be tried in absentia on charges of embezzling 214m roubles (£4.12m) from the Russian state-owned airline Aeroflot. The tycoon, who has lived in self-imposed exile in London since 2001, has refused to attend.”

Full story

The Guardian, 2nd July 2007

Source: www.guardian.co.uk

Law Society wins money laundering review – The Lawyer

“The Law Society has won another battle in its war to change the draft money laundering regulations causing headaches among City lawyers.”

Full story

The Lawyer, 5th June 2007

Source: www.thelawyer.com

Treasury backs down on money laundering rules – The Times

“The Treasury has agreed to reconsider its draft anti money laundering regulations after the European Commission backed a Law Society campaign calling for rules to be relaxed.”

Full story

The Times, 4th June 2007

Source: www.timesonline.co.uk

Regina (UMBS Online Ltd) v Serious Organised Crime Agency and Another – Times Law Reports

Customer entitled to seek review

Regina (UMBS Online Ltd.) v. Serious Organised Crime Agency and Another

Court of Appeal

“The Serious Organised Crime Agency, a powerful statutory body whose decisions could imperil private and business banking activity on no more than a reported suspicion of money-laundering, should not withhold giving consent to a bank to allow it to operate a customer’s account under section 335 of the Proceeds of Crime Act 2002 without good reason.”

The Times, 15th May 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

Online communities face money-laundering – Daily Telegraph

“Anti-Fraud experts are calling on the Government to start regulating virtual online communities amid fears that criminals and terrorists could use them to launder money.”

Full story

Daily Telegraph, 14th May 2007

Source: www.telegraph.co.uk

Woolf urges immediate action for “embezzlement” lawyer – The Lawyer

“The Law Society has stepped in to defend a solicitor’s human rights after the Russian government publicly accused him of embezzlement.”

Full story

The Lawyer, 24th April 2007

Source: www.thelawyer.com

British lawyer accused over collapse of Yukos – The Times

“A solicitor has become the first British citizen to be targeted by the Russian authorities in connection with the collapse of Yukos, the oil company.”

Full story

The Times, 24th April 2007

Source: www.timesonline.co.uk

Top QC condemns Treasury trust plan – Law Society’s Gazette

“The Government’s draft money laundering regulations are so vague it could be unlawful to prosecute lawyers who may unwittingly fail to comply with them, a leading human rights QC has claimed.”

Full story

Law Society’s Gazette, 13th April 2007

Source: www.lawgazette.co.uk


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