Convicted money launderer ordered to pay back almost £800,000

A man, who was previously convicted with money laundering offences concerned with drug supply in Essex, has been ordered to pay back almost £800,000.

Lee Ray Smith, 46 of Longwood Gardens, Ilford appeared at Basildon Crown Court on Wednesday, 24 July for the conclusion of a Proceeds of Crime hearing.

On 13 May 2020, officers on patrol stopped a van on the A13 following intelligence around it being connected with drug supply offences. Lee Ray Smith was in the van and tried to claim that he had hired the van to carry out a new delivery job.

The vehicle was searched and officers located two bags containing cash counting machines as well as bundles of cash in a rear compartment of the van. The bundles of cash were wrapped in cling film and labelled with with ‘100k’ or ‘70k’.

Officers also located an encrypted phone which was later found to have been used in drug supply.

Enquiries revealed that Lee Ray Smith had the role of collecting cash for criminal networks.

After being arrested, he was charged on 14 May 2020 with two counts of transferring criminal property. After pleading guilty, he received a suspended sentence on 24 August 2023.

An investigation from Essex Police’s Serious Economic Crime Unit (SECU) continued with Financial Investigators reviewing the amount Smith had made from criminal activity.

At a confiscation hearing at Basildon Crown Court on Wednesday, 24 July, it was determined that Smith’s criminal benefit was £939,917.04. He was ordered to pay back £791,214.90, his available assets by the 28 August 2024 or face five years in prison.  

Acting Detective Chief Inspector Alison Hooper from the Serious Economic Crime Unit said:

“Our Proceeds of Crime Team ensure that following the criminal proceedings, defendants are held accountable for the money made from crime.

“A career in crime will always catch up with you. Being involved in drug supply offences can be portrayed by organised crime nominals as a way to make quick, large amounts of money.

“This is not the case and in Essex, we continue to work to tackle drug related criminality, taking drugs off the streets and out of the hands of vulnerable people.

“The Proceeds of Crime recovered in this case form part of the Asset Recovery Incentivisation Scheme (ARIS) and is reinvested across the criminal justice network to reduce crime, protecting communities and continue to deliver justice.”

Last year, work by Essex Police’s Economic Crime Unit meant criminals were ordered to pay back more than £2.5 million: Criminals ordered to pay more than £2.5million in 2023 | Essex Police