Men Charged with Money Laundering Offences

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 Wednesday, March 8, 2023 - 11:15

Two local men have been charged with several money laundering offences.
The charges follow an extensive financial investigation by officers from HMC’s Investigation Branch which commenced in 2020.


The investigation stems from an arrest in August 2020 for offences contravening the Tobacco Act 1997. Searches executed at a local retail premises as well as both defendant’s residences resulted in considerable amounts of cash being seized.
The investigation revealed a large turnover of sales of tobacco which were largely inconsistent with the declarations made to the Income Tax Office. Therefore, the cash seized is alleged to form part of the proceeds from the criminal activity.
Use of criminal property, relating to the use of approximately £22,064,419 in cash, between 01/07/2015 and 30/06/2019, derived from the undeclared sale of tobacco, the said £22,064,419 being criminal property and knowing that it was criminal property.

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