Kingsbury man who laundered £40m in Queen’s Park shop for terrorists is ordered to pay back just £437k
PUBLISHED: 13:16 20 June 2016 | UPDATED: 13:27 20 June 2016
A Kingsbury man who laundered more than £40million to fund terrorism from his off-licence in Queen’s Park has been ordered to pay back just £437,841.06.
Sayed Anwar, 45, of Boycroft Avenue, ran a corrupt money transfer bureau from the basement of a 24-hour convenience store in Salisbury Road, and transferred funds to support Afghanistani extremists.
Anwar and Sayed Alam ran the multimillion Sterling Exchange business from the basement of a Foodwise store.
Anwar received on average more than £9.9m a year in transfers which would then be concealed through fake invoices before being sent to his homeland.
In 2014 he jumped bail before his trial at Southwark Crown Court and was sentenced to 10 years in jail in his absence for money laundering.
He is still on the run.
Today at Southwark Crown Court he was ordered to pay back the six-figure sum despite claims he pocketed a profit of £15m.
Judge Andrew Goymer ordered that the funds, which are believed to be in bank accounts police have access to, be paid within three months or a further four years will be added to Anwar’s sentence.
Although the laundered profits that Anwar sent abroad cannot be traced, counter terrorism officers from the Met say they were used to fund Islamist extremists in Afghanistan and Pakistan.
Most of the transfers came from a Birmingham drug trafficking racket which laundered £120m in cash from the sale of heroin, cocaine, and cannabis over two years.
When arrested the pair produced bogus invoices purporting to show the money being sent to China.
These were claimed to have been lies told to Inland Revenue to throw them off the scent of what was going on.
The court was told the duo raked in a total of £65.25m between 2004 and 2010 at Sterling Exchange.
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