£2.3m in 'ill-gotten gains' to be seized

Published on Thursday 4 March 2010 09:05

DETECTIVES investigating money laundering and fraud in Edinburgh have identified £2.3 million in suspected criminal assets for seizure.

The move follows the arrest of a 42-year-old man yesterday in an operation aimed at targeting serious organised crime gangs in the Capital.

Officers searched properties in Mortonhall Road in Blackford, Craigcrook Road in Blackhall, and Elm Row in Leith, as well as a property in Greenfield Park, Musselburgh.

The 2.3m in assets were identified for potential seizure under the Proceeds of Crime Act, while 3,000 in cash was recovered.

Officers also seized a number of items relating to possible offences under the Gaming Act 2005.

The man arrested is expected to appear in court at a later date.

Two women, aged 42 and 41, are also subject to a report due to be sent to the procurator fiscal in connection with the operation.

Forensic accountants with the force have been working to hunt down money-laundering operations, as part of a blitz aimed at "hitting criminals in the pocket".

Criminals running "legitimate" businesses, such as private hire car firms and security businesses, are being probed as part of the approach.

Detective Chief Inspector Robert Cowper said: "This successful operation was about securing evidence and intelligence in relation to money laundering and fraudulent activities.

"In addition to searching private homes, we also searched a business premises suspected of having links to criminal activity.

"Serious organised crime groups often use other businesses to legitimise their incomes, and Lothian and Borders Police is intent on deterring them by seizing the profits they have gained.

"Trying to recover the ill-gotten gains of those involved in serious organised crime is one of the strands of our strategy to tackle these groups. Money, and the power that comes with it, is what drives them. However, they have to make it appear that their money comes from legitimate sources.

"That is where money laundering comes into play, and where we have intelligence we will act to try to recover these assets."

Earlier this month, the Evening News revealed that the courts are set to seize more than 20 homes belonging to criminals in the Lothians as part of a 21m swoop on alleged criminal assets.

A hit list of properties – many worth up to 300,000 and belonging to drug dealers and gangsters – has been drawn up across the city as officers focus their efforts on bringing down the estimated 35 organised crime gangs operating in Edinburgh.

The crackdown has led to financial restraining orders being slapped on millions of pounds worth of property, land, business premises, vehicles, cash and bank accounts belonging to gang members. Designer watches and jewellery have also been identified for confiscation under the Proceeds of Crime Act.