Textile firms in the English city of Leicester have formed a trade-based financial crime network involved in money laundering and value-added tax (VAT) fraud according to an investigation by the British Broadcasting Corporation (BBC).

The state-owned broadcaster alleges the network centred on a Leicester-based company director, Rostum Nagra, who stole a firm belonging to a business associate and transferred its assets to his own company, Rocco Fashion. 

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