Dominic Thorncroft given suspended prison sentence for allowing his company to be used to transfer scam proceeds.
An anti-money laundering expert has been handed a suspended prison sentence for money laundering offences after allowing his company to be used as a conduit for £850,000 generated by an investment scam.
Dominic Thorncroft, former chair of the Association of UK Payment Institutions, who used to work with lawmakers and regulators to provide anti-money laundering training, had been convicted by a jury in June of several financial crimes.
The 56-year-old was sentenced on Friday to an 18-month suspended prison sentence and ordered to do 250 hours of unpaid work after the conviction on one count of failing to alert authorities to money laundering, one count of breaching money laundering regulations and four counts of retaining a wrongful credit.
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