Fairstead man admits money laundering
A DEBT-RIDDEN Portuguese man is facing the prospect of a jail sentence after his bank account was used to launder more than £5,000 in stolen money.
Goncalo Nogueira (26) opened an account with Lloyds TSB in July and immediately handed the cash card, pin number and details to an African man, who used it to deposit seven cheques from a stolen cheque book.
Within days a total of 5,480 had been paid into the account, with the same amount later withdrawn in cash.
Nogueira, of 61 Middlewood, Fairstead, admitted money laundering when he appeared at Lynn Magistrates' Court on Wednesday.
The case has now been adjourned until Friday, February 22, for the preparation of pre-sentence reports.
The court heard that when Nogueira was arrested he told officers he was introduced to the idea by a Portuguese man living in Lynn.
He said he knew it was a criminal offence but was keen to continue as it would make him some money.
When the card and pin number arrived he was driven to Bedford where he met an African man, possibly from Kenya, who took the account details.
Nogueira was told he would be contacted again when there was sufficient money in the account for him to take a share. The agreed amount was believed to be 8,000, from which he would be entitled to 25 per cent.
However, further withdrawals were made from the account which left him 4,425 in debt and he has not seen or heard from the African man since.
Mr Andrew Spence, mitigating, said when the bank discovered the transactions were not legitimate the account was closed.
Mr Spence said: "It became apparent the bank was on to him. They continued trying to make contact and invited him to the branch to sort it out.
"He did not go immediately. He was frightened and was aware he had got into deep trouble over this. He was apprehensive about the consequences.
"He knew what he was doing, he knew the money being deposited was clearly criminal property. He did not name the other parties involved as he feared for his safety."
Mr Spence told the court Nogueira was in debt and had further debts at home in Portugal.
He added: "His temptation to get involved was born partly out of financial difficulties. He is not proud of his conduct and deeply regrets what he did and realises the seriousness of it."
Nogueira was warned that custody would be considered as the court views money laundering as a very serious offence.
He was released on unconditional bail.
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