Drugs trafficker jailed in money laundering racket

A convicted drugs trafficker has been sentenced to three years for his part in an organised crime network which defrauded an insurance company of almost £330,000.

                                                                   

In 2006, Nazam Hussain Ashiq, from Dewsbury 'washed' £329,000 through a high street bank before travelling to South America to conduct a cocaine deal. The drugs plot was foiled when Ashiq, along with his colleague William Jones, was arrested by the Brazilian authorities and sentenced to more than 11 years in prison.

The SOCA investigation showed that in July 2006, £329,000 was transferred into Zain Corporation (UK) Ltd, where Ashiq was a company director, after a fraudulent fax was sent to a bank instructing them to transfer the money from an insurance company HSB Engineering.

Ashiq, who was a signatory on the company's bank accounts, immediately transferred £115,000 into the personal account of Mohammed Azam Yaqoob, and £41,500 into the account of William Jones. The balance of the money was withdrawn in cash by Ashiq himself over the next two days. 

Ashiq planned to travel to Brazil in November 2006 to purchase the Class A drugs and traffic them back into the UK concealed in audio equipment. The plan was thwarted when Brazilian authorities arrested Ashiq and Jones during the transaction in a hotel room in Brazil.

In a series of arrests SOCA arrested and charged Yaqoob and three others in the organised crime network in 2007 in connection with fraud and money laundering.

Yaqoob originally stood trial in July 2009 and was sentenced to two and a half years in prison. He appealed his conviction and the Court ordered a re-trial which took place in April 2012 at Leeds Crown Court. The jury, who heard that the £115,000 of the fraudulently-obtained money was traced into Yaqoob's personal bank account, found him guilty and he was sentenced to 18 months. The three others pleaded guilty and were sentenced to a total of three years.

A financial investigation is now underway.

Notes: 

Nazam Hussain Ashiq  dob 15/04/1978 Moorlands Terrace, Dewsbury.  Pleaded guilty to conspiracy to defraud and seven counts of money laundering in March 2011. Sentenced to three years for conspiracy to defraud and 12 months for each of the seven counts of money laundering. The sentences are to run concurrently.

Ashiq was sentenced to 11 years and 8 months in Brazil in 2007 for drugs offences 

Mohammed Azam Yaqoob  North Road, Ravensthorpe, Dewsbury. Charged with three counts of theft and one count of money laundering. Sentenced to 18 months on each count, to run concurrently on 19/04/2012 at Leeds Crown Court.

Ibrar Ali dob 20/07/1972 Selbourne Avenue, Dewsbury. Pleaded guilty to two counts of fraud by false representation relating to his role in obtaining of two fraudulent mortgages. Sentenced to 15 months imprisonment on 18/03/2010 at York Crown Court.

Zulfiqar Ali dob 16/03/1963 Selbourne Avenue, Dewsbury. Pleaded guilty to 2 counts of fraud by false representation and one count of money laundering relating to obtaining fraudulent remortgages, Sentenced to 15 months imprisonment on 18/03/2010 at York Crown Court.

Nazia Siddique dob 24/08/1980  Crackenedge Lane, Dewsbury– pleaded guilty to money laundering for her part in transferring the proceeds of a mortgage fraud. Sentenced to 9 months suspended and 200 hours community service on 10/09/2009 at Leeds Crown Court.

William Jones, dob 18/07/1955 Chorley New Road Bolton. Jones was sentenced to 11 years and 1 month in Brazil in 2007

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