Leeds money launderer is jailed for six years

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.

Richard Strauss

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.

Partner in crime Bhader Singh

This sentencing brings to an end a three-year investigation, centered on a highly organised and complex fraud. Singh’s company was set up to create an illusion of legitimate trading when in fact their sole purpose was to clean up the dirty cash of criminal activity. Those involved knew they were breaking the law by providing a service for criminals to launder their cash in an attempt to hide their criminal profits and avoid detection by law enforcement. HMRC is investing more time and resources than ever into identifying fraud. Our work does not stop at sentencing, but at depriving those involved of the proceeds of their crimes.

– David Margree, Assistant Director, Criminal Investigation, HMRC,