Garrick Law’s Defence Against £38M Conspiracy. Garrick Law has taken on the representation of the primary defendant, known as the KingPin, in a high-stakes case involving a £38 million international shuttle trading conspiracy.
This complex legal battle has garnered significant attention due to its intricacies and the involvement of multiple defendants allegedly playing various roles in the fraudulent scheme.
The prosecution’s case revolves around the assertion that all the defendants participated in a shuttle trading fraud. They presented compelling evidence, including documentation and ledgers directly linked to the accused, alongside records of their international travel to and from Dubai.
These pieces of evidence, the prosecution argues, substantiate the existence of the alleged conspiracy.
The defence, led by Garrick Law, took on the challenge of contesting the prosecution’s case. One of their key strategies was questioning the credibility of expert evidence and telephonic evidence presented by the prosecution.
To bolster their stance, Garrick Law enlisted the expertise of Sedulo Forensic Accountants to scrutinize and challenge the prosecution’s evidence.
Garrick Law has assembled a formidable legal team to defend their client in this complex case. Engaging the services of Richard Wormwold KC of 3 Raymond Buildings and Molly Dyas of 2 Bedford Row to provide expert legal counsel and representation.
Shuttle trading, also known as the ‘suitcase trade,’ has its roots in the aftermath of the dissolution of the Soviet Union in 1991. This pivotal event led to the collapse of Central Asian and Caucasian states and the emergence of an extensive informal economy centred around bazaars.
In these informal bazaar economies, goods and people were moved across borders in a transnational fashion, with emerging bazaars serving as key trade hubs. The defense in this case relied on the concept of Hawala to support their argument.
Hawala is indirectly connected to shuttle trading through its association with the bazaar economy. In this context, Hawala or Informal Value Transfer Systems (IVTS) facilitate trade and commerce.
Historically, businesses in the Middle East, especially small and medium-sized enterprises (SMEs), which formed the backbone of the informal economy, relied on exchange houses for services such as currency exchange, money transfers, and short-term financing.
The UAE, where the case is centred, regulates Hawala through the Regulation on Registered Hawala Providers. This regulation mandates that Hawala providers must register with the UAE Central Bank and obtain a Hawala Provider Certificate, ensuring compliance with UAE federal laws related to anti-money laundering and counterterrorism financing.
Dubai has transformed into a global offshore financial centre and a prominent trading hub in recent decades. Its robust communication, financial, and trading networks with the global economy have led some experts to characterize it as the linchpin of the contemporary global Hawala system.
This evolution is largely attributed to Dubai’s history as a destination for a substantial number of South Asian labour migrants in the early 1970s. Their need to remit savings back home created an environment conducive to the development of Dubai as a hub for Hawala transactions. Furthermore, exchange and capital controls in India and Pakistan contributed to the growth of Hawala networks, as they offered competitive rates for accepting hard currencies (e.g., dinars, dirhams, dollars) and distributing rupees in India and Pakistan.
The £38 million international shuttle trading conspiracy case represents a significant legal challenge, with Garrick Law at the forefront of the defence, aiming to provide a compelling case against the prosecution’s allegations.
Read our previous blog ‘Defending in cases involving Informal Community Savings Schemes in the British Courts’, found here.
Read our blog on ‘Debunking the presumption of illegitimacy surrounding Hawala’, found here.