September 11 2017
A Truro company and two of its bosses were at the centre of a £40 million money laundering and tax fraud operation stretching across Europe.
Daniel Wood and Gary Fulton were part of a gang of six men who laundered the criminal cash and carried out a major pan-European VAT fraud, for which the members have been jailed and ordered to sell all their assets to repay almost £590,000.
HM Revenue and Customs (HMRC) discovered the men worked for other crime groups moving approximately £40 million of criminal money through multiple bank accounts in the UK and other countries between September 1, 2010, and November 30, 2011.
The fraud centred on Omnis Capital FX, a money transfer service business based at Riverside House, Heron Way, Newham. Wood, 51, was the sole director and official money laundering reporting officer for the business. Fulton, 51, was a senior employee at the same business and account manager for many of the suspect companies in the fraud chain.