Court: Bevan Admits Transferring $1.8 Million

January 31, 2018

Jeffrey Bevan — who previously worked for the Bermuda Government and is currently on trial in Wales — admitted multiple counts of transferring and converting criminal property, with the court hearing he transferred £1.3m [$1.8m] into his bank account in the UK, and then spent it on gambling, cars and houses.

This is according to a report from Wales Online, which said Bevan admitted three counts of transferring criminal property and 10 counts of converting criminal property.

Four People On Trial In Wales In Connection With $2.5 Million 

Four people were charged last year in Wales, and at that time, the Bermuda Police said that Jeffrey Bevan, Samantha Bevan, Joel Ismail and Paul Charity appeared before Cardiff Crown Court “charged in connection with various money laundering offences.”

“The charges stem from a number of financial transactions conducted by Mr. Bevan whilst employed in the office of the Accountant General in Bermuda,” the police said.

“The theft was discovered after Bevan and his wife left Bermuda, with the funds having been transferred by electronic means through a local financial institution.

“The Bermuda Police Service was notified, and a joint investigation with the UK Regional Organised Crime Unit in Wales, was commenced.

“All four defendants entered not guilty pleas to the charges which come following the four year joint international police investigation.

“The four defendants are accused of laundering the proceeds of $2.5 million allegedly stolen from the Government of Bermuda between May 2011 and June 2013.”

 Bevan Admits Transferring $1.8 Million

The Wales Online story said, “Jeffrey Bevan, 50, from Cwmbran, admits transferring nearly $2.5m from his employer into his own bank account and then spending it on gambling, Mercedes, houses and flats.

“His friend Joel Ismail and financial adviser Paul Charity deny converting criminal property and are on trial at Cardiff Crown Court.

Timothy Evans, prosecuting, said Bevan started working as payments manager in the accountant general’s department for the Bermuda Government in January 2011.

“Mr Evans said there were 52 payments into Bevan’s personal bank account, amounting to nearly $2.5m. The court heard he transferred £1.3m [$1.8m] – which he accepts was criminal property – into his bank account in the UK.

“Prosecutors said Bevan ‘gambled away’ some of the cash, spent more than £30,000 on Mercedes and used £140,000 to pay off the mortgage on his family home.

“The court heard Bevan spent about £700,000 on cars, houses and flats, including properties in Newport, Glasgow and Nottingham.

Bevan admitted three counts of transferring criminal property and 10 counts of converting criminal property.

His co-accused Ismail and Charity deny converting criminal property by buying properties, and Charity also denies perverting the course of justice by deleting emails.

Mr Evans said: “There is no dispute that the money Bevan put in was criminal property. The issue is whether these two men knew or suspected it represented the proceeds of criminal conduct.”

The trial continues.

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