Alleged money laundering in Sark

27 Nov 2012

A large scale investigation is underway into alleged money laundering offences in Sark.

Two island residents appeared in Guernsey’s Magistrate’s Court on Monday morning following a raid involving 16 customs officers at an address in Sark on Monday 19th November.

Michael Doyle, 44, of Oakwood Manor, Rue Du Monnaie, St Andrew, is charged with operating a business between December 2004 and November 2012 without a fiduciary licence.

He was refused a licence in 2004.

He and Belinda Lanyon, 51, of La Connellerie, are charged with perverting the course of justice by disposing of evidence.

Neither entered a plea and have been remanded in custody.

Prosecuting advocate Chris Dunford told the court that on 19th November while customs officials carried out a raid in Sark, two raids were also carried out in the UK and Guernsey.

“It is suspected that both of them are operating as nominee directors in 300 companies.”

He said a large scale investigation was underway, the case involved $250,000, but that could run in to millions in due course.

Advocate Dunford said customs officers had placed a probe in the pair’s vehicle and picked up Mr Doyle saying: “Come on then let’s get rid of this evidence. If they find it we’ll be in trouble.”

Mrs Lanyon, who was born in Jersey but has lived in Sark for 21 years, was reported as saying: “We need to put the papers down at Vazon, these are overflowing.”

The court heard that officers went to the Vazon bring bank but found the bins had been emptied. Some papers were recovered but some bails are still being searched.

Advocate Dunford said if customs had not put the probe in the car the material would have disappeared.

“It is a very complicated investigation. It is suspected to be serious money laundering on a high scale.”

The hearing came on the same day that the Guardian published its own investigation into ‘sham directors’.

The BBC’s Panorama programme on 26th November 2012 will also focus on the topic with a piece on the ‘Sark Lark’ thought to have been stamped out years ago.

http://www.channelonline.tv/channelonline_guernseynews/displayarticle.asp?id=502604