"I Wouldn't Put It In A Display Cabinet" : Alleged Money Launderer Claims Cash Was Betting Coup

An alleged money launderer, arrested after police raided his flat and seized large amounts of cash, told a jury today it was the proceeds of a successful gambling enterprise.

John Sidney Watson, 63, was in Spain when officers raided his home in Rusham Road, Balham, seizing £190,000 cash, plus another £250,000 when they searched the property again a year later.

He is on trial at Inner London Crown Court, accused of possessing criminal property, but insists the money was legitimately earned with the assistance of a gambling expert.

Watson claimed: “They were bets beyond my capability, doubles, trebles, accumulators. He would take the stake, invest it, and take a percentage if I won.”

The gambling expert, who he only knew as 'Mr. Longbottom' began placing bets in 2009 and Watson says he quickly found himself £30-35,000 down.

“I thought I'd try out for a few thousand and he lost five thousand in the first couple of weeks.”

In their first search investigators found bundles of cash inside a guitar case, up Watson's chimney and on top of a bedroom wardrobe.

“It makes sense to hide it,” he told the court. “I wouldn't put it in a display cabinet.”

The large sums are not unusual for a punter seeking good returns, Watson insisted.

“In the gambling world these sums are sloshing around. I had a target I was building towards.

“I would have liked a million, half a million. That would have been something.”

Trial continues............