URGENT UPDATE: The masterminds behind Britain’s largest money laundering operation, involving £266 million in drug money, have vanished following their conviction. Authorities confirm that Gregory Frankel, Haroon Rashid, and Arjun Babber have skipped justice, leaving only Daniel Rawson behind bars.
This shocking development comes after a lengthy investigation by West Yorkshire Police that exposed a complex network funneling illicit cash through a jeweler in Bradford between 2013 and 2016. The case, which captivated the nation, revealed how drug gangs delivered suitcases full of cash to Fowler Oldfield, a so-called ‘cash-for-gold’ operation run by Frankel, a former bodyguard with no prior jewelry experience.
During trials held at Leeds Crown Court, which spanned from 2022 to 2025, Frankel and his associates were convicted of laundering vast sums of dirty money. The judge described the scale of their crime as “eye-watering.” However, only Rawson is currently serving a 10-year sentence, while the others have seemingly disappeared without a trace.
Frankel, who received an 11-year and 8-month sentence, fled to Israel just before the jury deliberated in his trial. He is reportedly working for the Israeli Ministry of Defense. Babber attempted to escape to Colombia and later entered a rehabilitation facility but was spirited away by family before authorities could apprehend him. Rashid has established a new life in Colombia, flaunting a lavish lifestyle and evading capture.
The shocking revelation has raised questions about the effectiveness of the UK’s financial regulations. Despite numerous red flags, including odd banking behavior and complaints from NatWest employees about the volume of cash being deposited, the operation continued unchecked until a police raid in September 2016.
In a disturbing twist, authorities have begun issuing arrest warrants for Frankel, Rashid, and Babber, acknowledging that locating them may be near impossible. They are believed to be living in luxury abroad while the victims of their crimes are left with unanswered questions.
The impact of this case extends beyond the individuals involved. It highlights the serious challenges law enforcement faces in combating money laundering, a crime that costs the UK economy an estimated £100 billion annually. The UK’s financial institutions, including NatWest, have faced severe consequences, with NatWest fined £264.8 million for failing to prevent money laundering through its services.
As this story continues to develop, authorities are urging the public to remain vigilant and report any suspicious activities related to money laundering. The escape of these criminals serves as a stark reminder of the lengths individuals will go to evade justice.
What happens next in this unfolding saga remains to be seen, but the urgency to recapture these fugitives has never been higher. Stay tuned as we follow the latest updates on this major case that has shaken the UK’s financial landscape.
