A solicitor figured among 67 criminals charged with money laundering following investigations by the Serious Organised Crime Agency last year, according to the agency’s annual report, published today.

Stuart Creggy, former magistrate and senior partner at Mayfair law firm Talbot Creggy, pleaded guilty to a charge of money laundering after setting up brokerage companies selling worthless shares to more than 600 victims. He also facilitated criminal payments through his client account.

Creggy received 18 months’ imprisonment suspended for two years, and was disqualified from working as a director of a company for seven years. The judge in the case made a confiscation order worth more than £900,000.

SOCA claims in the report that the 67 criminals charged with money laundering offences represents an increase from last year, although figures for 2007/08 are unavailable.

Speaking this morning, Sir Stephen Lander, chairman of SOCA and former director general of MI5, said: ‘I told the government it would take three to five years before we started having a real impact. This is year three, and we feel we’re really motoring now.’

Between October 2007 and September 2008 solicitors filed 6,460 suspicious activity reports (SARs), or 3% of all SARs filed. SARs are used by SOCA to track money launderers, and under the law must be made as soon as solicitors know or suspect the existence of criminal proceeds.

The House of Lords is conducting an Inquiry into Money Laundering and the Financing of Terrorism, which continues to take evidence.

SOCA’s annual report 2008/09 can be found here [http://www.soca.gov.uk/assessPublications/].