A WEST Bridgford man whose business was used to launder £10 million of ill-gotten gains from criminals has been banned from running a company for four years.
Rizvan Mian, 35, of Edward Road, was the owner of Imperial Escrow Ltd, in Nottingham.
He allowed cash to be transferred illegally between companies in the UK and overseas.
Any business dealing in large cash transactions has a responsibility to report those they consider suspicious to the National Crime Agency.
Mian pleaded guilty to four counts of breaching the Money Laundering Regulations 2007 when he appeared at Nottingham Crown Court.
He was sentenced to five months in prison, suspended for two years, and was ordered to do 180 hours' unpaid work.
Stuart Taylor, assistant director, criminal investigation, HM Revenue and Customs , said after the case: "Mian ignored his legal obligations to conduct measures to identify potential risks that his business was being used to launder money by criminals, in an attempt to hide their criminal profits and avoid detection by law enforcement."