MONEY LAUNDERER TO PAY BACK £87K
A BUSINESSMAN jailed for operating a money laundering “empire” has been ordered to pay back more than £87,000.
Chauhan Vijay Yogendrasinh, pictured, was jailed for eight years in November last year for the £9 million scam.
The 57-year-old ran the operation under the front of a seemingly legitimate business, Rushi Investments Ltd, from a terraced property in Canon Street, Belgrave, in Leicester.
The “sophisticated operation” uncovered by East Midlands Special Operations Unit (Emsou) had so much criminal cash pouring in, Post Office vans called three times a week to collect £25,000 in notes.
Yogendrasinh hid the dishonesty by using a number of genuine money transfer bureaux to move the cash, based on bogus receipts from non-existent customers and using false invoices, to India and Hong Kong.
The father of two, of Lichfield Drive, Blaby, was convicted by a jury at Leicester Crown Court of conspiracy to convert criminal property, between January 2011 and March 2016.
During a Proceeds of Crime Act hearing at Leicester Crown Court last week, it was found a total of £9,168,824.70 had been laundered.
A confiscation order was made with the defendant being told to pay back £87,342.86 – Yogendrasinh’s reliasable assets.
If the amount is not paid, the defendant will be ordered to serve a further 12 months’ imprisonment.
At the time of the sentencing, Det Con Grant Bailey, of Emsou, said: “This was an operation which involved millions of pounds of criminal cash being transferred illegally.
“A complex police investigation which involved hours of examining documents, checking financial records and carrying out CCTV inquiries, amongst other work, meant we were able to prove what business was actually being run by Rushi Investments.
“Money laundering involves cash gained from criminal activity.
“We will take action against anyone we believe to be involved in this type of activity and we will do the investigative work required to prove the crime.
“If you suspect anyone of being involved in money laundering – for example, if a person is trying to bank an unusually large amount of cash with no explanation for it or if their explanation for the cash does not seem legitimate – you should report it to police immediately.”