The Jewellers' Front: Anatomy of a £266 Million Money Laundering Scheme

Four British men, including two of South Asian heritage, were convicted in one of the UK's largest money laundering cases involving an estimated £266 million. Their jewellery businesses were used to process enormous sums of unexplained cash, linked to criminal activities across the UK, over several years.

In a landmark ruling, four British men, including two of South Asian descent, were convicted for their involvement in one of the UK's largest money laundering cases, estimated at £266 million. The complex investigation spanned eight years, exposing a sophisticated operation centered around jewellery businesses.

The convicted individuals, Arjun Babber, Haroon Rashid, Gregory Frankel, and Daniel Rawson, were found guilty at Leeds Cloth Hall Nightingale Crown Court. Their operations funneled large amounts of unexplained cash through their businesses, exploiting familial connections and legitimate fronts to disguise the origins of the funds.

This colossal operation saw couriers delivering money, often in sacks, from various UK regions. Over £95 million was laundered through Fowler Oldfield in 2015 alone. Despite the scale of the operation, no individual claimed the seized money. Authorities now aim to ensure none of the criminals benefit from their illicit activities.

(With inputs from agencies.)