Ease of £2.6m. con is revealed at men's trial
CASH conned out of the States in the 'Lagan fraud' ended up being laundered in Abu Dhabi and Istanbul, from where it has never been recovered.
Two men have now admitted their roles in the case as more details emerged of how Treasury and Resources lost £2.6m., how it was spirited away through different bank accounts and details of the lives of those behind the scam.
Yesterday in Southwark Crown Court, Adrian Taylor, 44, admitted one charge of entering into a money laundering arrangement and acquiring criminal property.
Taylor also faces sentence for attempting to fool a bank into believing he was a millionaire.
Last Thursday, co- accused John Woodhatch, 58, admitted entering into a money laundering arrangement and transferring criminal property between 5 July and 1 August 2012, both charges relating to the Guernsey scam.
Taylor claimed to be a £600,000 a year football agent but in reality he was a convicted fraudster with substantial gambling debts, the court heard.
It was told also how easy it had been for the men to dupe Treasury and Resources into paying money into a bank acocunt they had set up rather than Lagan's
