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Trevor Baines in money laundering probe

Isle of Man based millionaire Trevor Baines has appeared in court today (Tuesday) on charges relating to money laundering.

Mr Baines, who was arrested yesterday and held overnight, is charged with assisting another with the proceeds of crime and of falsifying records.

He has been bailed until February the fifth next year with his property, Africa House in Woodbourne Road in Douglas, as surety.

He has been made to surrender his passport and must report daily to police headquarters.

The charge of money laundering relates to two sums; one of 20 million dollars, and one of 175 million dollars, and is alleged to have been committed between June 1 and October 3, 2001.

A second charge is falsifying a document on or about May 31 that year in the Isle of Man or elsewhere.

Lyndsay Bermingham prosecuting said it was a complex matter.

In the most recent Sunday Times rich list, Mr Baines' wealth was estimated at £162 million, placing him 436th out of a thousand top names in Britain.

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