Published by Robert L Senior Reporter on Sunday 9th March 2025, at 16:15hrs
Four individuals have been sentenced to a combined 43 years in prison for their involvement in a staggering £266 million money laundering operation, marking one of the largest cases of its kind in UK legal history.
Gregory Frankel, 47, Daniel Rawson, 47, Haroon Rashid, 54, and Arjun Babber, 32, were found guilty of money laundering offences at Leeds Crown Court following a meticulous investigation by West Yorkshire Police’s Economic Crime Unit.
The intricate scheme, which spanned from 2014 to 2016, saw vast sums of criminal cash funnelled through a Bradford-based scrap jewellery business, Fowler Oldfield.
The court heard how millions of pounds in bank notes, the proceeds of criminal activity across the UK, were delivered to Fowler Oldfield’s premises in Hall Lane, Bradford, as well as locations in London.
CCTV footage revealed couriers arriving with bags filled with cash, often amounting to £1.7 million per day at its peak.
The money, concealed in sports bags, carrier bags, and even food containers, was counted using professional machines and deposited into bank accounts through legitimate cash-in-transit companies.
The operation masked the illicit funds by using them to purchase gold grain, which is untraceable and easily concealed.
Investigators believe much of this gold was then smuggled out of the country.
West Yorkshire Police initiated their probe in 2016 after a cash-in-transit company raised concerns about the unprecedented increase in cash collections from Fowler Oldfield.
While the company’s legitimate business involved purchasing scrap jewellery, it had transformed into a major money laundering hub.
The investigation involved extensive forensic analysis of financial records and thousands of hours of CCTV footage, revealing that over £266 million had been laundered through Fowler Oldfield’s accounts between January 2014 and September 2016.
The scale of the operation was so vast that the daily cash deposits rivalled those of a Premier League football club after a major match.
During the trial, the jury learned that couriers used tokens and passwords to identify themselves and that the cash was meticulously checked for tracking devices.
The operation relied on encrypted communication platforms to maintain secrecy.
A search warrant executed at Fowler Oldfield’s premises in September 2016 resulted in the seizure of over £2.1 million in cash, which remains unclaimed.
Assistant Chief Constable Pat Twiggs of West Yorkshire Police emphasized the sophistication of the operation and its connection to organized crime.
“This kind of activity, while appearing to be detached from the impact caused to our communities by drugs and violence, was a key process in camouflaging the ill-gotten gains of organised crime,” he stated.
Hannah Von Dadelszen of the Crown Prosecution Service highlighted the significance of the case, calling it “one of the largest money laundering prosecutions ever brought to the courts in England and Wales.”
She also noted the successful prosecution of 12 cash couriers involved in the operation and the Financial Conduct Authority’s action against NatWest Bank for breaching money laundering regulations.
The sentences handed down at Leeds Crown Court were:
* Gregory Frankel: 11 years, eight months
* Daniel Rawson: 10 years, ten months
* Haroon Rashid: 10 years
* Arjun Babber: 11 years
Authorities will now pursue confiscation proceedings to recover the proceeds of the criminal activity.
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