A MAN has been jailed after pleading guilty to handling over £173,000 in cash linked to a money laundering fraud.
Osmaan Rashid, 46, from Bradford, admitted to hiding and transporting the cash for a gang of money launderers in 2013.
Rashid was directly linked to four cash seizures by HMRC although he had wider involvement in the gang’s money laundering activities.
During the investigation HMRC officers discovered that Rashid was linked to cash handovers throughout the North-West region. In January 2011, HMRC officers found £35,000 in his wardrobe at his Bradford home.
He is the last gang member to be sentenced in this fraud case. Four other men were jailed for a total of eight years, three months in 2013 and one woman received a nine months suspended jail sentence in 2014.
Sandra Smith, assistant director, fraud investigation service, HMRC, said: “Attempts to launder the proceeds of crime are treated very seriously by HMRC, and we will relentlessly pursue anyone believed to be involved in it.”
Report argues that the government must change the way it makes tax and budget decisions
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC