SOCA takes £5m from money laundering brothers

27th November

A court has ruled that over £5m cash, discovered as part of a SOCA investigation into drug dealing and money laundering, is the proceeds of crime and should therefore be forfeited.

The cash was found in June 2008 when investigators searched a number of properties linked to Jamie and Cavan Hanna, two brothers who are now serving prison sentences of 14 years each after pleading guilty to money laundering and drugs charges. As part of their defence the Hannas denied the cash was theirs and claimed it belonged to ‘clients’.

A SOCA investigation into the brothers’ criminal finances is ongoing, but securing the £5m through the courts has been an important step in depriving the Hannas, and their network of associates, of a huge sum in operating capital.

SOCA’s Deputy Director Ian Cruxton said:

“Taking money off criminals is not just about making sure crime doesn’t pay. It’s about undermining the foundations of criminal businesses and preventing them from investing in the next venture. SOCA has no doubt that this cash was payment for deals done, and there will be serious repercussions now that it’s gone. By taking it out of play we will have caused havoc right along the criminal chain.”

Find out more about SOCA’s work to recover the proceeds of crime