The Metropolitan Police has announced that a man with a £1.5 million property empire has pleaded guilty to drug supply and money laundering.
Richard Baxter, 50, of no fixed address, admitted conspiracy to supply heroin, conspiracy to supply cocaine and conspiracy to transfer criminal property at Kingston Crown Court on Friday.
He was remanded in custody and is scheduled to be sentenced in the same court on December 5.
Baxter was one of the main figures in a gang that smuggled hundreds of kilograms of cocaine and heroin and then laundered the money through various companies, the Metropolitan District said.
His property portfolio, discovered by specialist officers investigating criminal gangs in London, included homes in Surrey and south-east England, and a holiday home was also seized.
Spanish police arrested Baxter in Valencia and extradited him to the UK where he was detained.
Police officer David Lawn, who led the investigation, said: “We have zero tolerance for anyone involved in criminal activity and are committed to combating the sale of dangerous illegal drugs that pose a threat to the public.”
“The Metropolitan Museum of Art is dedicating its expertise to combating drug crime and making our capital a safer place to live.
“Baxter’s conviction sends a strong message to those who seek to profit from the illegal drug trade that they will be held accountable for their actions in court.”
