A Kangs client was recently acquitted of money laundering allegations following a trial at Southwark Crown Court.
Our client was one of eight defendants charged with a combination of fraud and money laundering offences following a City of London Police investigation in to an alleged “boiler room” fraud operated by a company called Taylor & Mills Ltd (‘the company’).
The company sold “carbon credits”.
A number of brokers were employed to sell the carbon credits as an alternative investment. It is alleged that the company never actually purchased the carbon credits that were being sold to investors.
The total loss was approximately £2 million. All of the money obtained was paid into company bank accounts and was either withdrawn in cash or transferred directly in to the defendants’ bank accounts.
Analysis of Bank Statements | Kangs Proactive Fraud Team
Our client was alleged to have assisted the organisers of the fraud launder the proceeds of the operation. Through detailed and thorough analysis of our client’s bank statements we were able to establish that funds paid in to her bank account, from the company, were withdrawn soon after and given to those who operated the boiler room fraud.
It was our client’s case that she believed the funds paid in to her account were legitimate and having considered her detailed defence, the jury accepted her contention.
What is money laundering? | Kangs Money Laundering Solicitors
Money laundering is the process whereby attempts are made to make the proceeds of illicit activity appear “clean”.
The majority of complex money laundering schemes involve three stages:
1) “Placement” – the process of getting criminal money into the financial system;
2) “Layering” – the process of moving money within the financial system through complex webs of transactions;
3) “Integration” – the process by which criminal money ultimately becomes absorbed into the economy, such as through investment in real estate.
Prosecutions for money laundering can involve any of these stages in the money laundering process.
How can we help? | Kangs Financial Fraud Solicitors
At Kangs Solicitors we are able to offer a wealth of experience in defending clients accused of involvement in all aspects of financial fraud and money laundering.
We have a successful specialist fraud department with a team of solicitors dedicated to defending allegations of this nature. We are ranked by Chambers & Partners in Band 1 nationally for our work in defending fraud cases.
Should you become involved in, or be accused of any fraudulent activity, and require any guidance and advice then please do not hesitate to contact our team through any of our below mentioned solicitors who will be pleased to meet you for an initial free consultation.
If you have been invited to attend an interview with the City of London Police, The Serious Fraud Office, The Financial Conduct Agency or any other Police force or Government agency we can provide a specialist Solicitor to represent you.
Who do I need to contact for assistance? | Kangs Fraud Team
Please do not hesitate to contact one of the following for an initial consultation: