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International Money Laundering – Predicate Matter

Reference: CA167

Appointment Type: Party appointed expert

Service Area: Criminal and Regulatory

Industry: Not applicable

Litigation Type: Criminal

Size of Case: £10 million upwards

The Prosecution allege that the Defendant and his wife, were involved in an international money laundering arrangement, during the course of which, in excess of £12 million (primarily cash deposits) was laundered though various company and personal bank accounts. The Prosecution considers that the extent of funds passing through the various company bank accounts was inconsistent with any legitimate trade that the businesses may have been engaged in. The Defendant has been charged with one count of entering into or becoming concerned in a money laundering arrangement, contrary to section 328(1) of the Proceeds of Crime Act 2002, and two counts of converting criminal property, contrary to section 327(1)(c) of the Proceeds of Crime Act, namely monies used to purchase eight properties. The Defendant asserts that the businesses were all trading legitimately, albeit not all income from those businesses was declared to HMRC. We were asked to comment on whether there was evidence of trade, if so, the value that could be attributed to the income generated from that trade, the value of undeclared business income and the tax consequences in respect of the undeclared business income.