Man sentenced for £8.5m drugs find and laundering £10.8m

Friday, March 16, 2018

A man has today (Friday, March 16th) been jailed for 10 years and six months after admitting drugs offences and money laundering.

On Monday 11 December 2017 a joint investigation was launched between Lancashire Constabulary and the Her Majesty’s Revenue and Customs (HMRC) following the arrest of Labib Arshid on suspicion of money laundering. As a result of the arrest a search was conducted at Arshid’s home of Higher Springfield Barn, Belthorn Road, Guide, Blackburn where a large quantity of drugs were found.

At the address was Arshid’s partner, Rebecca Sherwood who was also arrested on suspicion of money laundering and possession with intent to supply a class B drug.

They were both charged with possession with intent to supply and money laundering.

Further enquiries revealed that the drugs found amounted to 333kgs of amphetamine (a class B drug) with a street value of £8,459,440,1kg of cannabis resin (also a class B drug) with a street value of £5, 000 and around £841,000 in cash. HMRC conducted the investigation into the money laundering and found that over £10m had been laundered.

Arshid, 44, and Sherwood, 31, both of Belthorn Road, Blackburn appeared at Preston Crown Court last week where he pleaded guilty to two counts of possession of a Class B drug with intent to supply and two counts of money laundering.

The charges against Sherwood were not proceeded with and were ordered to lie on the file.

DS Darren Irving, of East CID, said: “This was a major investigation which has resulted in a significant quantity of drugs being removed from circulation. I would like to thank our partners at HMRC for their co-operation in bringing Arshid before the courts and securing this conviction and sentence.”

Paul Maybury, Assistant Director, Fraud Investigation Service, HMRC, said: “Tackling money laundering is a priority for HMRC and we will not hesitate to investigate those suspected of being involved. We ask anyone with information about this kind of activity to contact our HMRC Fraud Hotline on 0800 788 887.”

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