Pump Court

Nick James & Molly Dyas in £54m Money-Laundering Conspiracy case

Cases 19 Jun 24

Nick James and Molly Dyas secured the acquittal of their client PL, charged with a £54m Money-Laundering Conspiracy, following a nine-week trial at Snaresbrook Crown Court.  PL was alleged to be part of a group who used Chinese Underground Banking, an Informal Value Transfer System, to convert millions of pounds of criminal cash via bank accounts.   Experts gave evidence about money-laundering operations and IVTS and the Jury were taken through hundreds of pages of text messages showing the operation in action.  PL’s case was that he was operating a Money Service Business, but had no idea the money emanated from crime.  He pleaded guilty to the regulatory offence of failing to register his business with HMRC and the Jury found him guilty of possession of £14,600 of criminal property.  On 14th June 2024 PL was sentenced to 18 months, a sentence he had served on remand.  Three of his co-defendants await sentence for the Conspiracy.  

Nick and Molly were instructed by Altaf Mohammed of Centurion Solicitors. 


Cases | 19 Jun 24

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Author:
Nick James

Author:
Molly Dyas

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