Business man jailed for money laundering

25/04/2014

A 56-year-old local businessman has today been sentenced to six months imprisonment after he pleaded guilty at Wolverhampton Crown Court to money laundering.

On 13 February 2013, officers searched the business premises of Davinder Singh at Mahal Enterprises in Wolverhampton. During their search officers found a rucksack which had been hidden under a tarpaulin in the cellar. Inside the rucksack they found £151,475. Further searches found another £23,280 along with £1,630 in counterfeit UK currency.

The defendant claimed that the money was a loan which a friend of his had returned to him along with profits from his business

He was charged and pleaded guilty to two offences of concealing criminal property and one offence of having counterfeit currency.

Ian Pinkney, Senior Crown Prosecutor from West Midlands Crown Prosecution Service's Complex Casework Unit, said:

"The Crown Prosecution Service is working with our partners in the criminal justice system to ensure that we target the ill-gotten gains of criminals.

"Prosecution is not just about punishment - we can do far more to disrupt criminals than ever before. The proceeds of crime are laundered and used to fund further crime; they are the lifeblood of organised criminals, fraudsters and terrorists. Asset recovery is a means of restricting that blood supply and we committed to use it to its full extent.

"We are determined that criminals and their associates do not benefit from their criminal activities and as this case demonstrates, those who handle such illegal proceeds of crimes will be robustly prosecuted and the money confiscated."