A BURY ST EDMUNDS man has denied that tens of thousands of pounds of income which he never declared was the proceeds of crime.
James Moroney, 48, of Horringer Road, has denied converting criminal property, concealing criminal property and possessing criminal property.
At his trial at Ipswich Crown Court, he has denied that he had obtained cash from drug dealing and selling stolen goods.
Moroney was arrested in October 2009 during a search of his home when police found £15,000 in cash in a bag in the kitchen.
Pairs of Caterpillar brand footwear from a stolen consigment were also recovered, it has been claimed.
Prosecutor Robert O’Sullivan said that an investigation established that Moroney had managed to pay out tens of thousands of pounds although he did not have a regular job or any apparent substantial source of income.
Moroney told the court that he had received cash payments for plastering work, which he had carried out at properties in Suffolk and Essex and, in August 2003, he had received a cheque for £22,500 following a fire.
He said he had also received money from a relative who had won £70,000 on a horse race.
On trial alongside Moroney is George Browning, 51, of Cat’s Lane, Sudbury, who has denied possession of cannabis and criminal property.
Last week, Lee Head, 37, and Laura Head, 27, both of The Hawthorns, Sudbury, were cleared of charges of converting criminal property. The trial continues.