In what is believed to be the largest money laundering case ever in the UK four people were today found guilty of their part in channelling £266 million through Bradford-based company Fowler Oldfield.
Gregory Frankel, aged 47, Daniel Rawson, aged 47, Haroon “Harry” Rashid, aged 54, and Arjun Babber, aged 32, were found guilty of money laundering following a trial at Leeds Crown Court.
The convictions follow a painstaking investigation by West Yorkshire Police’s Economic Crime Unit which established that vast amounts of bank notes from criminal networks across the country were being laundered under a veil of legitimacy.
Detectives unearthed large amounts of cash being credited to the bank account of Fowler Oldfield collected from three different sites: Fowler Oldfield’s own premises at an industrial-style unit at Hall Lane, Bradford, the offices of Stunt & Company, Leconfield House, Curzon St, London, and Pure Nines, New House, in Hatton Garden, London.
During a trial which lasted 19 weeks, the jury heard how the money would arrive at Fowler Oldfield by the sack load.
CCTV footage showed how couriers from as far afield as Glasgow, Manchester and Merseyside would turn up at Hall Lane, Bradford, carrying heavy bags laden with bank notes – and all the proceeds of crime.
At one stage, an average of £1.7 million a day was coming into the premises – all in cash and contained in sports bags, carrier bags, ‘bags for life’, gift-wrapped toy boxes and even take-away food containers.
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