A Buckinghamshire man who is serving a six-year prison sentence for money laundering from the development of an online banking service used by criminals, must pay back £1,018,085 within three months or he will spend another seven years in prison.
Sandeep Singh Gill, 43, was jailed in June 2016 following a HM Revenue and Customs (HMRC) investigation. Gill laundered criminal cash through a string of bank accounts in Portugal, the Cape Verde Islands, Jersey, Cyprus, and finally into his Swiss bank accounts.
Gill was convicted of two counts of transferring criminal property totalling £621,151 in May 2016 at Isleworth Crown Court. A confiscation hearing on 19 March 2018 concluded Gill had benefited by more than £6.3 million from criminal conduct, but his current realisable assets including property are just over £1 million. HMRC will be able to pursue any future wealth.
Nicol Sheppard, Assistant Director, Fraud Investigation Service, HMRC, said:
“Gill is already serving a six -year prison sentence. If he doesn’t pay back what he owes, he will spend even more time behind bars – and still owe the money. We encourage anyone with information about money laundering to report it online or contact our Fraud Hotline on 0800 788 887.”
The criminal cash was to fund a wealthy lifestyle including buying property, foreign holidays, and Rolex watches. During HMRC’s investigation £82,000 was discovered in a safety deposit box in London and £15,850 was seized from a safe at his home.