Three sentenced for roles in £6.1m money laundering scheme

Three men have been sentenced to 15 years in jail following a HM Revenue and Customs (HMRC) investigation into a £6.1 million money laundering scheme.

The scam unravelled when Manzoor Mohammed, 39, of Hounslow, was caught with £32,000 in cash in the Paddington area by Metropolitan Police officers on 18 October 2014.

Manzoor was working at the Paddington branch of United Forex Ltd, a Money Service Business (MSB) and had left with the cash. A search warrant was then executed at the branch and further cash seized which included dollars, euros and sterling.

Manzoor was later charged with money laundering, along with his United Forex Ltd colleague, Naif Mohammad, 42, of Shepherd’s Bush and their boss Amar Lal, 49, of Deira, Dubai.

The trio were found guilty after two trials at Southwark Crown Court. Manzoor and Naif were sentenced to four years in jail on 26 March 2021. Lal failed to attend trial and was sentenced in his absence last Monday (28 February 2022) to seven years in jail.

Nick Sharp, Deputy Director of Economic Crime, Fraud Investigation Service, HMRC, said:

“This was a money laundering scheme of significant proportions where criminally obtained cash was either being exchanged for foreign currency or transferred into several UK bank accounts.

“Money Service Businesses have an important role to play in our financial system but they can present a serious risk when in the wrong hands and can enable the proceeds of many types of crime to be laundered, including people trafficking, drug trafficking and other serious organised crimes. HMRC will not hesitate to prosecute those that deliberately and wilfully abuse their positions in this supervised sector.”

HMRC encourages anyone with information about the whereabouts of Lal or regarding money laundering to report it to HMRC online. Search ‘Report Fraud HMRC’ on GOV.UK and complete our online form.

Tim Wright, Detective Chief Inspector, Economic Crime, Metropolitan Police Service, said:

“This is a fine example of a joint investigation into a criminal MSB and demonstrates that we will work in partnership to bring offenders in the MSB sector to justice, however long and complex that road might be.

“I would like to highlight the roles played by the Met’s Economic Crime Teams and, in particular, our late and dearly missed colleague DC Sally Martin, whose investigative ability and tenacity was crucial in achieving this outcome”.

The case was referred to HMRC and an investigation was launched into Lal, Manzoor and Naif and their international money laundering plot. Lal was using his company to exchange street cash from criminal gangs into foreign currency, primarily high value Euros. The court heard some £6.1 million was laundered over a 22-month period.

United Forex Ltd operated five branches across London in Paddington, Bayswater, Queensway, Southall and Edgware and was crediting criminal cash into several UK bank accounts. Lal also ran another money exchange business in Dubai. Manzoor and Naif were full time employees at his London base.

Some £125,718, $11,990 and €53,520 of cash was seized during the entirety of the operation and the money was successfully forfeited at Westminster Magistrates Court on 23 April 2021.

Notes to Editors

1.Amar Lal, DOB 30/05/1972, of Al Owais Building, Deira, Dubai, was found guilty after trial at Southwark Crown Court on 25 February 2022 of entering into or becoming concerned in an arrangement which he knew or suspected facilitated, by whatever means, the acquisition, retention, use or control of criminal property by or on behalf of others in relation to United Forex Limited between 1 January 2013 and 18 October 2014. He was also found guilty of being in possession of criminal property, on 18 October 2014, namely £93,115 in cash. On 28 February 2022, Lal was jailed in his absence to seven years.

2.Manzoor Ahmed Khan Mohammed, DOB 15/10/1982, of Taunton Avenue, Hounslow, was found guilty after trial at Southwark Crown Court on 11 February 2021 of entering into or becoming concerned in an arrangement which he knew or suspected facilitated, by whatever means, the acquisition, retention, use or control of criminal property by or on behalf of others in relation to United Forex Limited between 1 January 2013 and 18 October 2014. He was also found guilty of being in possession of criminal property, on 18 October 2014, namely £93,115 in cash. On 26 March 2021, Mohammed was jailed for four years.

3.Naif Hussain Khan Mohammed, DOB 11/11/1979, of Hartswood Road, London, was found guilty after trial at Southwark Crown Court on 11 February 2021 of entering into or becoming concerned in an arrangement which he knew or suspected facilitated, by whatever means, the acquisition, retention, use or control of criminal property by or on behalf of others in relation to United Forex Limited between 1 January 2013 and 18 October 2014. He was also found guilty of being in possession of criminal property, on 18 October 2014, namely £93,115 in cash. On 26 March 2021, Mohammed was jailed for four years.

4.Anyone with information about money laundering who wishes to report this type of crime to HMRC, can search ‘Report Fraud HMRC’ on gov.uk and complete our online form.

5.Follow HMRC Press Office on Twitter @HMRCpressoffice