Leicestershire Police Crack Massive Money Laundering Scheme
Leicestershire Police launched an investigation in 2009 after spotting suspicious payments through a money service business called ‘Route of Asia’. The business’ owner, Salim Miah, was suspected of running a large-scale money laundering racket that moved cash out of the UK.
Mortgage Fraud Cash Winds Up in Lavish Property Spree
Officers traced nearly £420,000 from a mortgage fraud into the Route of Asia account. In 2009, Miah used almost £300,000 of these dirty funds to buy the Warwick Arms restaurant in Loughborough. He sold the eatery five years later and pocketed enough to snap up another four properties worth a whopping £1.08 million.
It’s believed around £650,000 of the property value came from the original mortgage fraud.
Money Service Business Shut Down & Civil Recovery Ordered
The Financial Services Authority (now FCA) refused official authorisation to the Route of Asia business in 2013, forcing it to shut down.
On 4 March 2022, a £500,000 civil recovery order was agreed after talks between the National Crime Agency (NCA), Miah, his wife Milan Begum, and associate Joshim Uddin, who jointly owned some of the properties.
The order covers a rental property, a plot of land, and a cash payout of £32,500.
NCA Vows to Hunt Down Dirty Cash
Andy Lewis, Head of Civil Recovery at the NCA, said: “Money laundering fuels organised crime. Businesses like Money Service Businesses are often exploited to ‘clean’ criminal cash.
“The NCA uses civil recovery orders so those who profit from crime can’t keep illicit wealth. These assets will be sold, with proceeds helping to fight further crime.”
Rachael Herbert, Head of Threat Response for Money Laundering at the National Economic Crime Centre, added: “The NECC targets the wealth of organised criminals using both criminal and civil powers.
“This case highlights the power of civil tools that don’t rely on convictions to strip criminals of their ill-gotten gains.”
