A money launderer from Leeds who helped “clean up” millions of pounds of dirty cash has been jailed for six years after an HM Revenue and Customs investigation.
Richard Strauss, who is 37, was jailed along with Bhader Singh, of Kettering, after they helped to launder £20 million in an attempt to hide its criminal origins, believed to be from the sale of illicit alcohol.
Strauss, the director of Anglotrade Beverages Ireland, was found with £50,060 cash in his possession in November 2012. He was found guilty of converting/transferring criminal property to the value of £7,112,150 after a seven-week trial at Chelmsford Crown Court. Confiscation proceedings to recover the proceeds of the fraud will follow.
Singh, 35, set up a fake wholesale company and produced false invoices to disguise financial transactions as legitimate sales of alcohol in the bonds market between January 2011 and October 2012.
The money from the transactions was paid to Anglotrade Beverages Ireland, and immediately transferred overseas from the business account.