A British businessman was facing jail today for helping launder a €1.4 million fortune conned from an Irish airline boss.
London's Southwark Crown Court was told that the victim of the scam, Noel Hanley, four years decided to buy four Aer Lingus Fokker planes for his airline, Euroceltic Airways, in Waterford.
He was later put in touch with a financier called Roger Wilcox who offered to lend him the £1.5m sterling (€2.15m) he needed for the deal - but only on condition he pay an up-front surety of £1 million.
The security was duly paid into a South African bank account and almost immediately disappeared.
The scam was uncovered when a bullion company employee became suspicious and called police. Shortly afterwards the owner of a car storage firm, Allan Cowen (67), from London, was arrested.
He was convicted of eights counts of transferring criminal property during 2003 and one of arranging or facilitating its acquisition.
A second defendant was cleared of possessing criminal property after explaining he believed he was part of an honest business transaction.
Police later discovered Wilcox was really South African TV producer Jean Claude LaCote, a convicted fraudster and alleged murderer, who is in a Johannesburg prison awaiting trial.
LaCote is on Belgium's wanted list for allegedly murdering British businessman Marcus Mitchell 11 years ago, and carrying out other frauds.
PA