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Gang Jailed for Laundering Millions Through Ukraine Vehicle Sales
A trio of individuals has been sentenced to prison for their involvement in a massive money laundering operation worth over £6 million. Valeriy Popovych, 52, and his wife Oksana Popovych, 42, along with Vitaliy Lutsak, 43, were arrested and subsequently convicted of transferring criminal property and operating an unregistered money service business.
The investigation, led by Detective Constable Harry Davies of the Metropolitan Police, discovered that Valeriy Popovych had been using his export business to launder millions of pounds. The company, Sprint Commercial Ltd., would acquire vehicles from legitimate UK traders and then sell them in Ukraine, where there was a high demand due to the ongoing conflict with Russia.
The illegal proceeds were then deposited into Ukrainian accounts and converted into cryptocurrency, taking advantage of the region’s lax regulations. A significant portion of the laundered funds was linked to Semen Kuksov, a Russian national previously convicted under Operation Destabilise, which targeted international money laundering networks.
Popovych presented himself as a legitimate businessman during the investigation, claiming he was merely exploiting the conflict in Ukraine for financial gain. However, his actions were deemed criminal and he was sentenced to six years and six months’ imprisonment alongside Lutsak, who received the same sentence.
Oksana Popovych is scheduled to be sentenced on May 30th.
Source: https://fullycrypto.com/gang-jailed-for-laundering-millions-through-ukraine-vehicle-sales?utm_source=rss&utm_medium=rss&utm_campaign=gang-jailed-for-laundering-millions-through-ukraine-vehicle-sales
