Another expert case win for Stuart Miller Solicitors’ expert Fraud Department

Mr K was successfully cleared of all charges thanks to Stuart Miller Solicitors’ representation after being accused of £21 million money laundering and cryptocurrency fraud.

Our client Mr K, based in Dubai, is an experienced trader who trades in different commodities including cryptocurrency around the world.

Mr K’s co-defendant Mr P allegedly exploited an online trading platform’s glitch that allowed users to both sell and buy crypt assets of the same value. However, rather than being left where they started, the trader’s account would be credited with the sale proceeds without subtraction of the purchase price.

Mr P allegedly exploited this glitch in order to funnel money into his and the other co-defendants’ existing businesses and new ventures. The prosecution alleges that the money from the scheme was used to purchase properties in Dubai, large quantities of gold and silver and fund financial businesses.

The Crown Prosecution Service alleged the scheme amounted to $37 million Australian dollars or £21 million in local currency.

It was Mr K’s belief that his co-defendants, who he met on the online trading platform, were acting lawfully since the platform requires certain verifications prior to use.

Stuart Miller Solicitor’s team of unrivalled expert criminal defence solicitors demonstrated Mr K’s innocence to the court at a 25-day-long trial.

Evidence was presented that showed Mr K was unaware of the seriousness of his co-defendants’ actions. Mr K assumed that when their bank accounts were unblocked their transactions were confirmed as legal transactions.

The jury, in this case, decided after laborious cross-examination by the judge that Mr K did not play a role in the money laundering and crypto-currency fraud carried out by his other four co-defendants.

All other co-defendants, who were not represented by Stuart Miller Solicitors, were convicted.