The owner of a sham company which the UK HM Revenue and Customs and Excise discovered was not registered for tax, has been jailed for five and a half years for money laundering. The owner and his associate reportedly funneled money from criminal organizations in London and Essex amounting to £5.9 million through this company. The associate was sentenced to three years’ imprisonment, for his part in the operation. He had reportedly acted as a courier, collecting the money from criminal groups and depositing the cash into the bank accounts controlled by the company owner.
Source: UK HM Revenue and Customs, 11 November 2016.
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