Sanitised case 26
Z a 65 year old British male requested the transfer of several thousand pounds to Y.In line with the disclosing institution policy Z was contacted to verify the payment. No contact could be made by telephone so B was emailed awaiting verification.
Y then contacted the institution explaining that Z had forward the email to his daughter who in turn had forwarded it to Y.
Y went on to advise that Zs daughter who was an Authorised Agent was currently working in UAE and that it would not be possible for her to call the institution; while another daughter was unavailable as she was tending her boyfriend who was ill with terminal cancer. Y then asked how he could go about being an Authorised Agent on the account as he was trying to help his friend Z- who is currently an ill man in USA.
Believing that a fraud may be taking place the institution submitted a disclosure and subsequent investigation revealed that Z was recently convicted on drugs charges in the USA. Z who lived in both Estonia and the US had been offered a sizable commission if he could find a buyer for a considerable amount of radioactive material which could be used to make dirty bombs. The value of the radioactive material was in the region of $200 million.
Z attempted to make the sale in the US but was unaware that he was actually talking to United States undercover operatives. The undercover operatives informed Z that payment radioactive material would be made up between cash and drugs namely cocaine. The Estonian sellers declined this offer wanting only cash. B decided that this was too good an opportunity to miss – approached the same agents and informed them that he had found a buyer for the cocaine (approx $8 million) in England, there followed a complex “sting” resulting in the arrest extradition and subsequent conviction of Z.
It appears that B had attempted to make both his daughters authorised agents on his account. This did not occur as there was a failure by B to complete the institutions KYC requirements. The applications for the authorised agents occurred at the same time he was being extradited and tried in the US.
It was established that Z and Y were old school friends and were born in the same village. Y was an innocent party helping this old school friend who he believed was ill in the US. B at the same time did not want the institution to be aware of his incarceration, nor did he wish the US authorities to become aware of the funds held in Jersey as they would be deemed as the proceeds of crime. Investigations in the US have led the US authorities in this particular case not to pursue a confiscation, content that the funds held were not the proceeds of crime
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