A businessman from North Yorkshire who helped fraudsters to launder more than half a million pounds, has been jailed following an investigation by HM Revenue & Customs (HMRC).
Ian David Smith (67) from Cropton in Pickering admitted helping criminals hide their illicit profits by falsely putting them through the books of his family luxury cottage rental and horse and carriage businesses in an attempt to make the cash look legitimate.
His customers included a gang of convicted tobacco smugglers and a prolific mortgage fraudster, who he helped by purchasing property and vehicles using the illicit cash. Smith provided his ‘clients’ with fake invoices, putting the money through the company books to make it look as though they had paid for goods. The monies would then be paid back to the criminals at a later date, after taking a fee for his role in the transaction.
HMRC press release link: click here