The ringleader of a gang who laundered £107 million through their London bureaux de change has been stripped of his properties, including one in Harrow .

Ramanathan Thayaparan, 45, was jailed for nine years in May 2014 following an investigation by HM Revenue and Customs (HMRC).

HMRC found that organised crime associates would convert bags of dirty money into easily concealable €500 notes at the bureaux de change.

Thayaparan, who was the business's designated money laundering reporting officer, would turn a blind eye to strict regulations governing checks on the source at a fee, the HMRC said.

The fraud occurred at the two foreign exchange outlets in Victoria.

It allowed Thayaparan, who the HMRC described as a "ringleader of a gang", to build a £1.3 million property portfolio, which was comprised of a property in Eastcote Lane, Harrow, and others in Paris, India and land in Sri Lanka.

On Thursday (September 28), the conman was moved from his prison cell and put back before a judge to be stripped of his assets.

Nicol Sheppard, assistant director of the HMRC's Fraud Investigation Service, spoke after the judge ruled against the organised criminal at Southwark Crown Court.

Thayaparan Ramanathan was stripped of his million-pound property portfolio

“The message from the hearing couldn’t be clearer: abuse your position to launder money and we’ll lock you up,” she said.

“Thayaparan exploited his role to line his pockets, but we left no stone unturned in picking apart his finances and identifying his assets – even those offshore.

'Full force of the law'

“Money laundering is a serious offence and people like Thayaparan and his associates sustain organised criminals by legitimising their ill-gotten gains.

“We relentlessly pursue those engaging in money laundering, ensuring they face the full force of the law.”

His property on Eastcote Lane, in South Harrow, was seized

Judge Marc Dight made an order under the Proceeds of Crime Act 2002 requiring Thayaparan to pay back £1,382,707 within three months or face seven-and-a-half more years in prison.

His accomplices, Thillainathan Kumarathas, serving a five-year sentence, and Dinesh Kumar Anandan, who served a two-year sentence, were ordered to repay £23,520.61 and £37,500 respectively at a hearing in September 2015.

Sian Davies, from CPS Proceeds of Crime, said: “Ramanathan Thayaparan was prosecuted and jailed for his part in a calculated scheme to launder large amounts of cash through a London money exchange.

The property in South Harrow was seized

“The CPS’s work did not stop at conviction and we worked closely with HMRC to restrain and confiscate his assets in order to recover as much money as possible for the taxpayer.

“We are determined that criminals will not feel the benefit of their offending.”

Anyone with information about money laundering can contact the Fraud Hotline on 0800 788 887.

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