A British accountant pleaded not guilty to laundering about €7 million from his Malta-based office six years ago.

James Hadwen, 57, was charged with money laundering through converting or transferring property derived indirectly or directly from the proceeds of criminal activity.

Prosecution asked the court to appoint an expert to list all the properties belonging to the accused

Appearing before Magistrate Audrey Demicoli yesterday, Mr Hadwen, who held a Maltese identity card, pleaded not guilty to acting as an accomplice to criminal acts in November 2008 and before. A former Sliema resident, Mr Hadwen had escaped from Malta in 2008 after the British police clamped down on a company in the United Kingdom. The owners of the company were recently imprisoned for fraud.

Mr Hadwen, who spent the past years travelling through Europe, was arrested in Cyprus on Friday and immediately extradited to Malta, arriving late that same evening. Mr Hadwen also pleaded not guilty to hiding the source and location of property derived from criminal activity and acquiring property knowing it came from criminal acts.

Police Superintendent Paul Vassallo and Inspector Raymond Aquilina, who are conducting the prosecution, asked the court to appoint an expert to list all the properties belonging to Mr Hadwen. The prosecution is also requesting that the accused is banned from transferring, pledging, hypothecating or otherwise disposing of any movable or immovable property.

Defence lawyers Franco Debono and Marion Camilleri did not make a request for bail given that the accused does not have a permanent address in Malta. Mr Hadwen was therefore placed under preventive custody.

Any person found guilty of money laundering can be fined a maximum of €2,329,373.40, jailed for a period not exceeding 14 years or both fined and imprisoned.

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