A father and son laundered more than £10 million from the illegal sale of Viagra and slimming pills through charities they set up to tackle Jewish poverty, a court heard.
Edward Cohen, 67, and his son David, 38, were allegedly responsible for “money laundering on a gigantic scale”, using an international network of bank accounts and companies, it was claimed.
Prosecutor James Dawes QC said their charities had stated aims of “relief of poverty and the advancement of Orthodox Jewish faith”, as well as “helping the Jewish poor worldwide”.
Mr Dawes told a jury at Southwark crown court that the network saw an “enormous jump” in income in 2012 to £8 million, having recorded an annual income of £1.7 million between 2008 and 2011.
Investigators claim £10.2 million of a total income of £18.7 million between 2012 and 2014 can be identified as laundered money.
It was said the Cohens were concealing the profits from illegally selling Viagra, slimming pills, anti-smoking tablets and other prescription drugs online to customers across Europe.
Mr Dawes said investigators had discovered money being funnelled through foreign exchanges and cheque-cashing firms, and diverted to countries including Hong Kong, Panama and the USA.
“Effectively, what we are seeing here, you may think, is money laundering on a gigantic scale,” he added.
David Cohen, from Golders Green, denies supplying false information to the Charity Commission, becoming concerned in criminal property, acquiring criminal property, theft and benefit fraud.
Edward Cohen, of Stamford Hill, denies supplying false information to the Charity Commission, two charges of becoming concerned in criminal property, acquiring criminal property and theft.
The trial continues.
