Three convicted money launderers have been ordered to repay a total of £23,629,031 following a court ruling today.
The trio illegally acquired Australian dollars, which were laundered through cryptocurrency, as part of a large-scale fraud scheme.
Stephen William Boys, 56, alongside Kelly Caton, 46, and Jordan Kane Robinson, 26, were sentenced in January 2023 at Preston Crown Court. Boys received six years in prison, while Caton and Robinson were each sentenced to four and a half years. The three were associates of James Parker, the mastermind behind the scheme, who exploited a loophole in a cryptocurrency exchange between October 2017 and January 2018.
Parker, operating from Blackpool, dishonestly obtained over £20 million through the scam. Over three months, he withdrew approximately £15 million in illicit crypto assets, while Caton and Robinson withdrew £2.7 million and £1.7 million respectively. Parker passed away in January 2021 before facing prosecution.
The Crown Prosecution Service (CPS) Proceeds of Crime Division collaborated with Lancashire Police and the North West Regional Organised Crime Unit (NWROCU) to ensure the offenders could not retain their illegal gains. A Civil Recovery Order valued at nearly £1 million was also secured against Parker’s estate, with a significant portion of the laundered funds returned to the defrauded Australian exchange.
Andrew Kerrigan of the CPS emphasised the significance of the case, stating, “Cyber-enabled crime poses an increasing threat to economic stability. This case highlights our ability to target proceeds of crime on a global scale.”
Over the past five years, the CPS has recovered £450 million through Confiscation Orders, with £88 million returned to victims as compensation.
[Image created via MidJourney]