On Tuesday, four British men, two of them being of South Asian descent, were found guilty in one of the biggest money laundering cases in the UK, which is estimated to be worth GBP 266 million. Two British men of South Asian descent, Arjun Babber, 32, and Haroon Rashid, 53, along with Gregory Frankel and Daniel Rawson, were found guilty at Leeds Cloth Hall Nightingale Crown Court after an eight-year investigation into the import of unexplained cash through their companies. Babber, who owned Goldsteel Limited, started the money laundering in 2015 through Fowler Oldfield Limited, a company that his family owned, called RPS Jewellers. Fowler Oldfield’s operations were also regular to Rashid, the sole director of Rashid Jewellers. This is one of the biggest money laundering prosecutions in England and Wales, and it is notable that in this case it has been established that massive amounts of unclean money were being introduced into the banking system. The defendants were in the middle of it all, cleaning the money and making it look like it wasn’t from crime. Couriers from all over the UK would bring large amounts of cash, sometimes up to £1.7 million a day, to Fowler Oldfield’s offices. The investigators think that the money has its connection with organized crime, including drug trafficking. The investigation was launched by West Yorkshire Police’s Economic Crime Unit in 2016 after it spotted unusual cash transactions at Fowler Oldfield.
UK's Largest Money Laundering Cases
