On March 17, 2016, James Campbell Sutherland and Jack William Flader were found not guilty of money laundering by a jury at Southwark Crown Court. The nine week trial was the last in a series of three "boiler room fraud" trials. The trial opened on January 14, 2016, following an investigation which commenced in 2007. The prosecution alleged throughout the series of trials that Mr. Sutherland, Mr. Flader, both based in Hong Kong, and others received or assisted in the transfer of proceeds of fraud from accounts held by numerous entities between 2003 and 2008. Nine convictions were obtained with regard to the others in related trials between 2013 and 2014. Mr. Sutherland and Mr. Flader's charges related to the alleged laundering of the fraudulently obtained funds associated with the earlier trials.
The Serious Fraud Office press release on the matter is available at: https://www.sfo.gov.uk/2016/03/17/two-acquitted- money-laundering/.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
