Police have reclaimed more than £ 5 million from fraudulent companies that used adult entertainment websites as part of an international money laundering operation.
On November 30th last year, a Manchester Magistrates’ Court judge approved the loss of £ 5.8 million in criminally obtained funds after GMP’s Economic Crime Unit – a specialized division within GMP – opened an investigationGMPs Serious Organized Crime Group.
The company’s directors had 30 days to appeal the judgment, but that time has passed and they are responsible for it fully expires Quantity.
It marks the largest Proceeds of Crime Act (POCA) foreclosure in Greater Manchester Police history.
The investigation affected three Manchester-based companies registered in 2018 that were affiliated with Adult entertainment websites offering pay-per-view services for exotic dancers with live streaming.
However, research found that the websites did not offer the advertised services and instead were a way to launder illegally received money.
Criminals used the third party websites’ payment process to launder more than $ 60 million over a 12 month period. This money was the proceeds of a highly developed and highly organized network of international criminal activity.
In January 2020, the third-party payment platform linked to the sites ended their relationship after an internal review.
At the same time, GMP detectives began a Investigation of the freezing of civil accounts against the three companies that had received the money in an international bank account in Germany.
Detective Chief Inspector Tony Norman of the Force Economic Crime Unit said, “This is an excellent seizure of funds that the court has arranged through criminal means.
“They would likely have been used by organized crime groups to advance their agendas, but thanks to the dedication of our officials investigating this fraud, they are being used to fight organized crime and fund community projects to support the greater Manchester communities.
“At the Greater Manchester Police Department’s White Collar Crime Division, we are determined to fight organized crime by using the powers conferred on us under the Crime Proceeds Act to track down and seize such illegal assets to prevent them from happening Criminals benefit from their illegal activities and instead re-invest those funds to improve communities. “