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Money Laundering – Proceeds of Vehicle Theft

Reference: CA172

Appointment Type: Party appointed expert

Service Area: Criminal and Regulatory

Industry: Other

Litigation Type: Criminal

Size of Case: £100,000 - £500,000

The defendant had 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. The Prosecution allege that (1) monies from sale of stolen motor vehicles was laundered by the defendant through his company (2) the defendant used the cash proceeds from sale of stolen motor vehicles to pay his sub-contractors in cash (3) the monies received by the defendant’s company was then transferred to a number of co-defendants, thereby “cleaning” the criminal proceeds. We were asked to undertake an analysis of the defendant’s bank accounts to quantify the amounts that were transferred to the co-defendants, identify the sources of income into the bank accounts, prepare estimated P&L’s from the banking material provided and to consider the defendant’s status as a contractor/sub-contractor in relation to CIS deductions.