A Sri Lankan Tamil ringleader of a gang who laundered £107 million through their London bureaux de change has been stripped of his properties, including one in Harrow .
Ramanathan Thayaparan, 45, was jailed for nine years in May 2014 following an investigation by HM Revenue and Customs (HMRC).
HMRC found that organised crime associates would convert bags of dirty money into easily concealable €500 notes at the bureaux de change.
Thayaparan, who was the business’s designated money laundering reporting officer, would turn a blind eye to strict regulations governing checks on the source at a fee, the HMRC said.
The fraud occurred at the two foreign exchange outlets in Victoria. It allowed Thayaparan, who the HMRC described as a “ringleader of a gang”, to build a £1.3 million property portfolio, which was comprised of a property in Eastcote Lane, Harrow, and others in Paris, India and land in Sri Lanka.
On Thursday (September 28), the conman was moved from his prison cell and put back before a judge to be stripped of his assets.
Judge Marc Dight made an order under the Proceeds of Crime Act 2002 requiring Thayaparan to pay back £1,382,707 within three months or face seven-and-a-half more years in prison.
His accomplices, Thillainathan Kumarathas, serving a five-year sentence, and Dinesh Kumar Anandan, who served a two-year sentence, were ordered to repay £23,520.61 and £37,500 respectively at a hearing in September 2015.