A 43-year-old man has admitted facilitating the transfer of £91,500 for crooks involved in a “cold call” scam.
William McLaren allowed large sums of money fraudulently obtained from elderly victims in an investment ruse to be paid into his account and used by others, between October 1 2014 and November 1 2016.
Dunfermline Sheriff Court heard that McLaren was extradited from Spain to Scotland to face criminal proceedings in 2022 after being apprehended in respect of an international arrest warrant.
He had previously, along with former co-accused Paul Morris from Lochgelly, faced an accusation of forming a fraudulent scheme to obtain £147,000 by selling of fictitious investments to people – but prosecutors ultimately accepted not guilty pleas to the charge when they appeared in the dock this week.
It had been alleged the fraud took place at addresses in Whitelaw Crescent, Dunfermline, as well as addresses in Alexandria and Glasgow.
‘None of the money was legitimately invested’
Prosecutor Douglas Thomson told the court that information was received earlier this week from essential Crown witnesses in respect of the fraud charge which “materially altered the strength of the Crown case,” leading to a resolution before trial.
McLaren, now of First Avenue in Bonhill, West Dunbartonshire, pleaded guilty to an offence under the Proceeds of Crime Act.
He admitted becoming concerned in an arrangement which he knew or suspected facilitated the acquisition, retention or use of criminal property, namely £91,500.
The charge goes on to say the money, having been fraudulently obtained, was paid into his Nationwide Building Society bank account and he allowed others to use the funds.
The offending happened at an address in Clydeshore Road, Dumbarton and elsewhere.
Prosecutor Douglas Thomson told the court that between December 2014 and November 2016 a number of elderly people were “cold called” by telephone and “prevailed upon” by unknown people to invest significant sums in purported asset management schemes using various company names.
The fiscal said: “None of the money was legitimately invested.
“This was an operation that appears to have been of a significant scale and that involved a number of individuals”.
Surrendered passport
Mr Thomson said there is no evidence suggesting the direct involvement of McLaren in this scheme.
He said McLaren’s Nationwide bank account was opened in 2012 when he lived in Dumbarton, that he moved to Spain in early 2013, and in October 2014 he was asked by people known to him to make his UK account available to them and he agreed.
The fiscal said “several large sums” of money totalling £91,500, identifiable as coming from people defrauded in the cold calling scam, passed through the account over a 23-month period.
Mr Thomson said most of the money credited to McLaren’s account left to third party accounts in one to two days.
The fiscal said: “With the exception of some cash withdrawals and sums consistent with normal day-to-day expenditure, the Crown has no evidence that (McLaren) made any significant direct benefit from his involvement in the scheme”.
Mr Thomson said the use of McLaren’s account facilitated the transfer of £91,500 of criminal property.
Sheriff Susan Duff adjourned sentencing on McLaren to September 26 to obtain background reports and bail was continued.
The sheriff told McLaren: “Be under no illusions on what sentences are open to the court”.
The court heard that McLaren has already spent 53 days in custody in relation to the case and was required to surrender his passport.
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