Bank Employee jailed for Conspiring to Launder over £2.5M

A Barclays bank employee has been jailed for his role in a conspiracy to launder over £2.5M, acting as a “personal bank manager” for two accomplices.

Jinal Pethad and representational image of money

"Jinal Pethad abused his position of trust at the bank to knowingly set up sham accounts."

A bank employee from Barclays has received a jail sentence after he conspired to launder over £2.5 million to assist two internet criminals. The British Asian man stole the money, using Dridex malware.

On 12th December 2017, the judge sentenced Jinal Pathed to 6 years and 4 months in jail at the Old Bailey.

Pathed has created 105 bogus bank accounts for two individuals named Pavel Gincota and Ion Turcan, using fake ID documents.

The money launderers were free to transfer money between the accounts, as the employee made sure the stolen receipts weren’t blocked by Barclays’ security processes.

Prosecutors described him as Gincota and Turcan’s “personal bank manager”.

In addition, the 29-year-old would regularly communicate with the pair through text messages. He used three mobile phones, solely for the conspiracy, as Gincota would contact him on creating new accounts.

The criminal also asked Pethad to change details on them, such as security information and addresses. In one message, Gincota asked:

“Can I bring 2 guys for open acc pls??? 1-german; 1-france; or 2-france; who u want? Let me know pls! [sic]”

However, the National Crime Agency (NCA) launched an investigation into the conspiracy. They soon arrested the two money launderers and jailed them in October 2016 for their crimes. Police arrested Pethad in November 2016.

They searched through his property and recovered £4,000 in cash. Officers also discovered 7 expensive watches and the mobiles phones used for the plot.

During his trial, the 29-year-old pleaded guilty to conspiring to launder money between 2014 and 2016. After the sentencing, Mark Cains from the NCA’s National Cyber Crime Unit said:

“Jinal Pethad abused his position of trust at the bank to knowingly set up sham accounts for Gincota and Turcan, providing a vital service which enabled them to launder millions.

“The NCA works with industry and law enforcement partners to target cyber crime at every level. We are determined to disrupt the flow of illegal money to prevent it funding further criminality.”

A Barclays spokesperson also explained the bank’s role in supporting the NCA’s investigation:

“We have worked with and supported the police with this investigation and welcome the outcome of the proceedings. Barclays has a zero tolerance to any unlawful activity and confirms Jinal Pethad was dismissed by the bank.”

Now with his sentence given, Pethad begins his time in jail.

Sarah is an English and Creative Writing graduate who loves video games, books and looking after her mischievous cat Prince. Her motto follows House Lannister's "Hear Me Roar".

Image courtesy of NCA.