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Accountant Convicted of Money Laundering

Money Laundering

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An Accountant, local to my practice has been convicted of laundering the proceeds of drugs. She has received a suspended sentence and on the face of it is still practising albeit only as a bookkkeeper. Is this an effective deterrant


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By Moonbeam
18th Feb 2019 12:31

We are all aware that it's quite easy for the usual dictator types to launder money and that London is the preferred location to do this through despite our laws against money laundering.
It's only the honest professionals who are going to be worried and spending hours ticking meaningless boxes so we are seen to be compliant when our professional bodies investigate us.

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By legerman
18th Feb 2019 12:53

She will no longer be able to practice, even as a bookkeeper. MLR rules now prevent this for those with unspent convictions.

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Replying to legerman:
By ccassociates
18th Feb 2019 13:10

You would think so but given the fact that she has "phoenixed " her Ltd Co in the past and now been convicted I don't believe that is going to stop her.

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By andy.partridge
18th Feb 2019 13:04

There's a lucrative vacancy in the market just waiting for you to fill it. Worst case scenario a suspended sentence. Worth thinking about.

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By bernard michael
18th Feb 2019 16:15


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By memyself-eye
18th Feb 2019 17:32

Get her to watch 'Breaking Bad' on Netflicks- they do drugs properly in ABQ

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Replying to memyself-eye:
Hallerud at Easter
19th Feb 2019 10:30

Better call Saul.

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David Winch
By David Winch
19th Feb 2019 10:24

I don't have details of the specific money laundering offence of which she was convicted (it might be possession of criminal property, it might be conspiracy to convert criminal property - only the latter is a 'criminal lifestyle' offence) but note that both convicted defendants will be subject to a proceeds of crime (confiscation) hearing later. That may prove to be significant.
As a result of her conviction she should not be eligible to be active in the 'regulated sector' under MLR 2017 (as has already been mentioned).

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Red Leader
By Red Leader
19th Feb 2019 11:30

Well, the defendants were from Porthcawl. What do you expect? Would never happen in Nottage.

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