Author: Azizur Rahman 5 September 2019
The Financial Conduct Authority (FCA) has secured its joint largest-ever money laundering prison sentence against Richard Baldwin, a major player in Operation Tabernula. This was five years with eight months added for contempt of court. The farce is that he is not around to submit to the jail time, but it still sends a strong message to firms.
Aziz Rahman was quoted in Thomson Reuters Regulatory Intelligence discussing the case, "The message it sends to firms is that the actual offence and the consequential offence of money laundering, offences with which Mr Baldwin was charged, will be pursued vigorously by the FCA,"
"The fact that Baldwin absconded did not help his chances. His absconding should, in theory, have had no effect on conviction and sentencing. It will, however, will be dealt with separately when he is found and the maximum he will receive for that is 12 months,"
"Money laundering is a top priority for UK law enforcement and will pursued to the ends and the sentence reflects this,"
The article can be read here. (behind a paywall)
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.