Money Laundering | Metropolitan Police Take No Further Action Against Money Services Bureau
Kangs Solicitors have been representing a Money Services Bureau (‘MSB’), which trades from a number of branches across London, following the execution by the Metropolitan Police of search warrants at such premises, simultaneously with raids at the premises of eighteen other companies, in relation to allegations of money laundering millions of pounds.
Frances Murray explains the successful involvement of Kangs Solicitors.
Police Allegations | Kangs Financial Investigation Solicitors
The Police alleged that:
- HMRC records indicated that the company was trading at a loss
- the trading branches were not located in traditionally affluent areas
- there was no economically viable reason for the business to trade
- there was a suspicion of money laundering connected to an investigation undertaken by the Spanish Anti Money Laundering Agency which had discovered €200 million of drug trafficking money.
How We Assisted Our Client | Kangs Financial Crime Investigation Team
In response to the allegations we:
- discussed at length with our client the nature of the allegations, the nature of its trade, and the basis of the allegations with which it was confronted
- prepared detailed witness statements by the Chief Executive Officer of the company in which the legitimacy of each transaction subject to scrutiny by the Police was evidenced and proven
- conducted a thorough and detailed forensic analysis of the company records, the centralised database and identification checks of all of the company’s customers.
A Successful Result | Kangs Financial Investigation Solicitors
As a result of our detailed attention to the company’s trading position and preparation of a full response to the allegations faced the Metropolitan Police decided to take no further action against our client company.
Naturally, our client was delighted with the outcome given that its good reputation had been preserved.
How Can Kangs Solicitors Assist You? | Money Laundering and Fraud Defence Solicitors
It is imperative to seek advice at an early stage of a criminal investigation. Decisions made at the investigation stage of a case often have a huge impact on matters that proceed to Court.
Kangs Solicitors’ complex crime and regulatory team provides a national service.
We have extensive experience of dealing with cases investigated and prosecuted by all the major prosecuting authorities such as the SFO, FCA, HMRC, CPS, Trading Standards, Environment Agency etc.
Who Can I Contact For Help? | Kangs Criminal Defence Solicitors
If you are a business, whether a sole trader, partnership or company, we are here to assist you manage your contact with the prosecuting authority and advise you on any criminal proceedings involving fraud and / or money laundering.
Our team of solicitors has a proven track record of assisting many individual and businesses achieve the best available result following such criminal proceedings.
The team is led by Hamraj Kang who is recognised as a ‘star individual’ by the legal directory Chambers & Partners for his work in fraud cases over the last twenty years.
We are ranked in ‘Tier One’ by the Legal 500 and in ‘Band One’ by Chambers & Partners for our work in fraud/money laundering cases.
Our expert team of Solicitors can be contacted through the following:
Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258171 | 020 7936 6396 | 0121 449 9888
John Veale
jveale@kangssolicitors.co.uk
0121 449 9888 | 020 7936 6396
Tim Thompson
tthompson@kangssolicitors.co.uk
0121 449 9888 | 020 7936 6396
