UPDATE: A shocking new investigation reveals that the masterminds behind Britain’s largest money laundering scheme, totaling £266 million, have vanished without a trace. Authorities confirm that Gregory Frankel, Daniel Rawson, and Haroon Rashid have skipped justice, leaving only Rawson behind bars.
The scandal, which has gripped the UK, revolves around a rundown jeweller known as Fowler Oldfield in Bradford, where the funds derived from drug trafficking were laundered through a series of dubious operations. Between 2013 and 2016, couriers delivered suitcases stuffed with cash daily, enabling Frankel and his accomplices to funnel this dirty money into gold purchases, primarily for the international market.
Just last March, in 2026, Frankel and three others were convicted after a lengthy trial process that lasted from 2022 to 2025. The judge called their operation “eye-watering,” sentencing Frankel to 11 years and 8 months, while Rawson received 10 years and 10 months. However, only Rawson remains incarcerated.
Frankel, the alleged ringleader, disappeared in late 2022, just before a crucial jury decision. Recent reports confirm he has relocated to Israel, where he is now reportedly working for the Israeli Ministry of Defense.
Meanwhile, Arjun Babber attempted to flee the UK in 2024 but was later “spirited away” from a rehabilitation center, while Haroon Rashid has established himself as a successful entrepreneur in Colombia since fleeing years ago. These revelations highlight a concerning trend where individuals implicated in massive financial crimes evade accountability.
Despite the extensive police investigation involving over 8,000 hours of surveillance footage, financial experts warn that much of the laundered money is now virtually untraceable. Only £2.1 million in cash has been recovered from the Fowler Oldfield premises, a paltry sum compared to the estimated total.
West Yorkshire Police have now issued arrest warrants against the three fugitives, initiating extradition processes, but the likelihood of capture remains low as they enjoy lavish lifestyles abroad.
Officials from the Crown Prosecution Service emphasize that this case sends a critical message about money laundering in the UK, a crime that costs the economy an estimated £100 billion annually.
This ongoing saga not only exposes the vulnerabilities in financial oversight but also raises urgent questions about how such a monumental operation could persist under the radar for so long. As the situation develops, the public is urged to remain vigilant and informed about the implications of these high-profile fugitives.
Stay tuned for more updates on this breaking story as authorities work to track down these elusive criminals.
