Pound Hill father helped drugs gang to launder cash
THIS is the Pound Hill dad who abused his position at a bank to help a drug-trafficking and property fraud gang launder their profits.
Indipaul Sra was convicted in March of conspiracy to commit fraud and was jailed for four years. However, until now reporting restrictions prevented us from naming the father of three.
He appeared in court on June 11 to face unrelated charges but they were dismissed, meaning the previous restrictions were lifted.
Sra, 42, set up multiple accounts for the gang at the Barclays branch in Purley where he was business manager.
He then allowed them to withdraw huge sums without reporting it to the authorities.
He took a five per cent cut for every transaction he oversaw.
At times conspirators removed more than £100,000 in cash from the accounts.
The gang trafficked high-strength cocaine from as far afield as Argentina and distributed it across Surrey and Sussex.
A police officer who worked undercover on the case told the News: “He was the eyes and ears for their money laundering. He would give them the heads-up.
“They would then be ‘cash rich’ when they made those withdrawals and that money would then be available to invest back into the drugs and property empire and often pay people cash in hand.”
The gang also set up an elaborate property scam, stealing neglected or abandoned homes from elderly people, those in care or the recently deceased, which netted them £3.8 million.
A Land Registry official and a solicitor were employed by the gang to fraudulently obtain rights to the properties and trick developers into buying the houses, sold at knockdown prices.
The solicitor did the conveyancing and collected money from sales while the Land Registry official supplied title deeds and owners’ signatures so they could be forged.
When sentencing Sra at Southwark Crown Court, Judge Michael Grieve said: “I have no doubt in your case you were corrupted (by the gang).
“Your motive was greed.”
“You co-operated in setting up the accounts to launder the money.”
“You knew that you were helping to realise the proceeds of crime while receiving a five per cent cut.”
“It is clear in your case your family will suffer greatly as a result and you will have to live with the knowledge you have let them down badly.”
Loading...