Three men have been sentenced to more than seven years in jail after being found guilty for their part in an arrangement to launder more than half a million pounds.
Nirmal Tanna, Kevin Hollyoake and Mark Percival, who were convicted after a trial at Leicester Crown Court in September 2016, were sentenced today (Monday 23 January) :-
Nirmal Tanna, 39, from Switzerland (previously of Oadby, Leicester), was jailed for more than five years for money laundering, a Bail Act offence and the activation of a suspended sentence.
Kevin Hollyoake, 57, of Abbotts Bromley, Staffordshire, was jailed for 18 months for a money laundering offence.
Mark Percival, 51, of Kingsfield Road, Barwell, was given a 12 month suspended sentence for a money laundering offence.
The case relates to a change of payment details between two companies. A genuine company, SIS Ltd, received a fake letter from an individual purporting to be from an organisation who they had dealings with. This letter asked for payments to be made into a new bank account.
Relying that the information was legitimate, SIS Ltd made two payments in May and June 2012 totalling over £500,000.
This money was then forwarded to multiple fraudulent accounts, which included Tanna’s bogus account – called Tanna Land Investments – which received £175,500.
During the police investigation, it was found that Hollyoake used his business in an attempt to legitimise the transaction to Tanna as the product of a genuine business transaction. Percival, an employee of Hollyoake, was found guilty of his involvement in this deceit.
DC Matthew Swift from the force’s Economic Crime Unit, said: “This was a lengthy and complex investigation where individuals have tried to hide and legitimise the receipt of the Proceeds of Crime.
“While we have not been able to prove who committed the crime, we were in this case able to identify where the proceeds of this crime have ended up.
“I hope this sends out a clear message to those involved in criminality – specifically money laundering – that we can and will track down where possible criminal proceeds and those responsible.
“Other recipients of funds are still being sought and enquiries are ongoing to locate them although it is believed some are no longer in the UK.”
Source:: Leicestershire Police News