International Money Launderer Arrested

07 December 2009

Naresh Jain, the subject of a long term investigation by SOCA and international partners, was arrested in New Delhi on Sunday morning (06 December 2009). Jain is alleged to have controlled a worldwide money laundering system that, at its height, was capable of moving $2.2bn a year.

Jain, who is banned from entering the UK, was arrested in Dubai in 2007 by Dubai Police as part of a year long joint investigation between SOCA, Dubai Police and Italian Guardia di Finanza but fled to India while awaiting trial. SOCA subsequently worked closely with the Dubai and Indian authorities to assist them with their enquiries. Jain is currently in custody in India and SOCA are liaising with both Indian and Dubai police on the next steps.

Commenting on the arrest, SOCA Deputy Director Ian Cruxton said:

"This operation is part of SOCA's long term strategy targeting specialist money launderers based overseas. The illegal money transfer systems they use provide the infrastructure to launder cash for organised crime groups whose activities directly impact on the United Kingdom.

"These networks pay no attention to cultural or geographical barriers. They launder money for organised crime groups from any ethnic background or criminal business, particularly UK, Pakistani and Turkish Nationals based in the UK and mainland Europe involved in drugs trafficking.

"SOCA continues to share intelligence and work with international partners to create a hostile environment for criminals both domestically and internationally".