Three members of the same family were given prison sentences for money laundering offences at the Old Bailey this week.
According to Annie Conway, specialist prosecutor for the CPS Organised Crime Division, Ussama El Kurd ran what appeared to be an inconspicuous money exchange shop with his wife and son on Kensington Church Street in Central London, but it was used by criminals who changed up to £150 million into Euros before spiriting it away.
He “was laundering criminals' money on a truly industrial scale,” said Ms Conway.
El Kurd pleaded guilty in October last year to conspiracy to launder contrary to section 327 of the Proceeds of Crime Act 2002. This week he was sentenced to nine years' imprisonment, disqualified from being a company director, and given a Serious Crime Prevention Order and a Financial Reporting Order.
Randa El-Kurd and Hussam El Kurd pleaded guilty in November to, respectively, one count of Breach of Money Laundering Regulations 2007, and one count contrary to section 330 of the Proceeds of Crime Act 2002.
They were both sentenced this week to ten months' imprisonment and disqualified from being company directors.
Contact Siobhain Egan for further advice.
*This blog is intended as a news item only. No connection between Lewis Nedas Law and parties to the case is implied.
