06:05PM, Wednesday 21 March 2018
A money launderer has been ordered to pay back £1m or face another seven years in jail.
Sandeep Singh Gill, 43, formerly of Stoke Poges, was jailed for six years in May 2016 for two counts of transferring criminal property totalling £621,151.
He laundered criminal cash through bank accounts in Portugal, the Cape Verde Islands, Jersey, Cyprus, and finally into his Swiss bank accounts.
A confiscation hearing on Monday, March 19, concluded Gill had benefited by more than £6.3 million from criminal conduct, but his current realisable assets are just over £1 million.
Gil must pay the amount within three months or he will remain in prison for a further seven years and still owe the money. HM Revenue and Customs (HMRC) will be able to pursue any future wealth.
Nicol Sheppard, Assistant Director of HMRC's fraud investigation service, said: “Our work doesn’t stop when a criminal is jailed.
“No matter how complex a money laundering investigation is or how many different bank accounts are used, we will stop criminals profiting from their crimes and recover the money to fund public services.”
Before he was convicted, Gill used the criminal money to fund a luxury lifestyle. He owned Rolex watches, multiple properties, and went on holidays abroad.
He also had £82,000 in a safety deposit box in London and £15,850 in a safe at his home.
Gil laundered money through the online banking service Universal Mercantile Building Society EF (UMBS).
Its sister-company UMBS Online was an illegal online banking facility used by criminals to move dirty money between bank accounts.
Gill legitimised transactions by producing false bank statements and documents.
HMRC has also appealed for information on the whereabouts of Rajesh Datta, 43, in connection with the investigation. His last known UK address was Middlegreen Road, Slough.
Anyone with information about money laundering should report it online at gov.uk/topic/dealing-with-hmrc/tax-compliance or contact the Fraud Hotline on 0800 788 887.
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