Channel S founder jailed for money laundering
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.