Money laundering news - 21 arrested on sophisticated fraud charges

21 people from various UK cities, including London and Manchester, have been arrested for alleged offences relating to money laundering within the construction industry.

A spokesperson from HM Revenue and Customs says that the group may have robbed construction workers of as much as £6 million in tax and national insurance contributions.

So far, police have seized £73,000 cash, most of which is believed to be the proceeds of crime, as well as documentation, computers and a quantity of Class A drugs.

Those involved are said to be from an efficiently-run organised money laundering gang that engages in a form of missing trader fraud.

Adrian Farley, HMRCs assistant director of criminal investigation, commented, Todays arrests are the result of strenuous efforts by our teams of dedicated officers to disrupt the sophisticated scams of organised crime gangs behind money laundering activities. This conspiracy by a number of contractors is believed to have resulted in the theft of over £6 million from the public purse, depriving vital public services of much needed investment. We are committed to bringing them to justice and to deprive them of the proceeds of their crime.

News « UK trader news Police arrest 21 for construction money laundering offences

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