Regulation 

Adviser faces trial over £1.84m money laundering

Adviser faces trial over £1.84m money laundering

An accountant, his wife and their financial adviser are due to stand trial for their alleged roles in laundering nearly $2.5m (£1.84m) from the Government of Bermuda.

Jeffrey Bevan, 50, from Cwmbran, his wife Samantha Bevan, their friend, Joel Ismail, and financial adviser Paul Charity deny all the charges against them and are due to stand trial.

Addressing the jury at Cardiff Crown Court, Judge Michael Fitton QC said: “Your role is going to be to hear the evidence.”

There are 14 counts on the indictment, covering about a three-year period.

Jeffrey Bevan and Samantha Bevan deny transferring more than £300,000 between May 2011 and March 2012, knowing or suspecting it to represent the proceeds of criminal conduct.

They also deny transferring more than £1m between March 2012 and June 2013.

The couple have pleaded not guilty to converting criminal property by using money stolen from the Government of Bermuda to pay off the mortgage on their home in Orchid Court.

Jeffrey Bevan denies the same charge in relation to his purchase of two Mercedes-Benz cars, a property on Llewellyn Walk in Newport and flats on Jamaica Street in Glasgow.

He is jointly charged with Ismail and Charity with converting criminal property by buying properties in Villiers Street, Windmill Terrace and Skinner Street – all in Swansea.

The accountant and his friend pleaded not guilty to the same charge relating to Cork House, Swansea.

Jeffrey Bevan faces a further charge of converting criminal property by purchasing flats in The Post House, Swansea, and transferring criminal property by buying flats in Nottingham.

Charity is accused of intending to pervert the course of justice by deleting a series of emails with the intention of concealing them from the police.

Jeffrey Bevan, 50, from Orchid Court in Cwmbran, denies three counts of transferring criminal property and 10 counts of converting criminal property.

Samantha Bevan, 52, from the same address, denies two counts of transferring criminal property and one count of converting criminal property.

Ismail, 42, from Hall Farm Crescent in Leicester, denies four counts of converting criminal property.

Charity, 52, from Bushey Close in Leicester, denies three counts of converting criminal property and one count of intending to pervert the course of justice.

The case is before a jury of six men and six women and is expected to last for about eight weeks.