-104.jpg)
Six jailed for Money Laundering Scam
Six men have been jailed today for their part in a £15million money laundering scam involving Natwest Bank.
The men involved discovered a loophole which allowed them to pay in worthless cheques, but withdraw cleared funds before the cheques inevitably bounced.
The men then tried to launder the stolen funds using several IT and mobile phone companies created to clean the money under the guise of fake business deals. This process was supported by a number of fake documents created to try and legitamise the money laundering.
The money was then sent on to Latvia, where police in Riga discovered the accounts and informed police in the UK. This then prevented the final integration process which would have involved depositing the money in an account in Dubai.
All six men who appeared in front of Southwark Crown Court were convicted of conspiring to launder money, whilst 3 of the defendants were also found guilty of plotting to produce false instruments for their role in creating false documents.
7th August 2008
Print page
You may be interested in:
192 Document-ID: for details on how to verify official documentation.
A 192 compliance guide to The Money Laundering Regulations 2007
