Four Lloyds Bank workers and three fraudsters were jailed for a total of 38 years today for raiding the bank accounts of rich clients to fund luxury lifestyles.
The insiders scoured the computer system for dormant accounts holding large sums of money and passed the details to the criminal gang.
They also ordered new bank cards and altered phone numbers and addresses so that imposters could pose as the customers and set up transfers of hundreds of thousands of pounds at a time.
The money was then laundered through a series of bogus companies before being moved offshore to prevent it being recovered.
One victim lost more than £750,000 after an unknown man used a fake driving licence in his name to set up two transfers over three days.
Another customer with £3m in the bank only escaped becoming a victim when another member of staff became suspicious and rang him up to check.
Bank workers Courtney Ayinbode, 29, Tajinder Galsinh, 35, Molly Jones, 24, and Benjamin Omoregie, 26, were all involved in the 'high-level and sophisticated' scam.
The money was washed by 'bespoke money laundered' Eddie Lakes, 41, and his henchman Kushveer Raulia, 25, through a complicated network of fake companies and accounts with the help of Parvez Hussain, 50.
Prosecutor Paul Cavin said “a lot of expensive designer clothing and shoes” were found in Omoregie's car boot, including a Vivienne Westwood shirt worth £230.
Omoregie had previously refused to tell police where his car, holding the stash of designer goods, was located.
The prosecutor said the gang “were all involved in an agreement to defraud Lloyds TSB of millions of pounds”.
He continued: “Accounts belonging to people with large balances - in some cases several millions of pounds - were targeted.
“To identify those rich accounts, an insider, an employee of the bank was recruited to help the gang.
“The insider would then assist in breaching the security protocols in order to steal the money.
“The money would be transferred to accomplices who would swiftly transfer the money through a number of bogus businesses before eventually the money would disappear offshore.
“Once it is offshore it can come back onshore and nobody can trace it.”
The first victim lost £750,975 in the space of three days after his account was accessed by both Ayinbode and Omoregie at the Balham and Streatham branches of Lloyds TSB in July 2013.
A few days later the customer's address was changed and a new card was issued to the new address.
Then on 5 August a man claiming to be the customer went into the Kings Cross branch to ask to set up a transfer.
Staff accepted the imposter's bogus driving licence as genuine and authorised the transfer, even though the customer's local branch was in Clapham, south London.
The money was laundered through dozens of bogus company operated by Raulia.
Jailing Ayinbode, Jones, Omoreji and Galsinh for a total of 20 years, Judge Anuja Dhir QC said: “You had accessed to valuable, sophisticated client information, you abused the trust your employers placed in you - you passed on that information and compromised bank accounts.
“You all knew that money would be dishonestly transferred from client accounts as a result of your actions.
“Such was the sophistication of this fraud that the money was money was dissipated and spent in a professional and organised manner.
“You were friends acting together and with others to steal as much money as you could.You were motivated by financial gain.”
Jailing Lakes, Hussain and Raulia for a total of 18 years, she said: “All of your accounts were fraudulent and conducted no legitimate trade - these accounts were an integral part of the laundering process.
“Hundreds of thousands of pounds were laundered through them - often from other accounts connected with Mr Lakes.”
To Lakes, she said: “You are a professional and successful money launderer - you knew bank frauds could only be successful if there was somewhere for the money stolen from banks to be quickly laundered and put in a place where it could not be recovered.
“Such was your dishonesty that during the period of this indictment you were providing money laundering services to other frauds.”
Raulia, of Gledwood Gardens, Hayes, west London, denied but was convicted of two counts of conspiracy to defraud and one count of converting criminal property and was jailed for seven years.
Lakes, of Point Wharf, Brentford, was jailed for a total of five years.
He was jailed for three years for converting criminal property for the Lloyds Bank fraud, with two years consecutive for conspiracy to defraud and money laundering for a separate, unrelated fraud.
Ayinbode, of Magdalen Court, Enmore Road, South Norwood, southeast London, denied and was convicted of conspiracy to defraud between 9 November 2012 and 8 August 2013 and was sentenced to five years imprisonment.
Galsinh, of Marlow Gardens, Hayes, denied but was convicted of one count of conspiracy to defraud and was jailed for six years.
Hussain, of Cedar Road, Romford, east London, denied and was convicted of converting criminal property and was caged for six years.
Jones, of Bohemia Chase, Leigh-on-Sea, Essex, admitted conspiracy to defraud ahead of trial and was jailed for five years.
Omoregie, of no fixed address, admitted the same charge and was sentenced to four years imprisonment.
damian.fantato@ft.com
