Channel S founder jailed for money laundering

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Channel S founder jailed
Channel S founder jailed

The founder of Bangladeshi TV service, Channel S has been jailed for a quick money-making scam.

Mohammed Ferdhaus, 40 from Essex, admitted laundering money from a scam operated by his brother, Mohammed Samsul Haque.

BBC News reports a Southwark Crown Court hearing that at least 124 claims linked to Motor Alliance, a firm run by Haque, brought Ferdhaus �500,000 profit. He pleaded guilty to money laundering in July.

In October 2011, Haque and five other men were jailed. It is said to have cost the insurance industry a huge �1.9m. Of that sum, �1.17m was paid to Motor Alliance and at least �500,000 was transferred to Ferdhaus or companies controlled by him.

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