A MULTI-million-pound money laundering trial has opened with allegations of funding a fugitive on the run, trips to London to distribute cash and a complex network of false trails and hidden clients.

The prosecution say chartered accountant Peter Michel delivered £5.6m to 53 clients and that he used ‘pool accounts’ for his clients to hide where their money was really coming from.

Michel, the sole principal of Michel and Co, and his personal assistant, Simone Gallichan, face a total of ten charges relating to money laundering and cheating the UK tax office out of millions of pounds.

Both face the prospect of long jail sentences if convicted.

Crown Advocate Cyril Whelan began the eight-week trial yesterday by describing Michel as a money launderer who helped clients transfer, convert and hide their funds.

He said that it was too hard to say exactly how much was laundered by Michel, but the total amount ran into many millions of pounds.