A District Court today sentenced a 31-year-old man to 21 months in prison for money laundering.

Between June and September 2011, a bank ran a promotion campaign in which credit-card users could earn supermarket coupons. The bank later noticed the face value of coupons it received from the supermarket chain was far in excess of the amount it had issued.

About 44,000 coupons involving an amount of $2,935,000 were found to be high quality forgeries. The bank reported the case to Police in February 2012.

Commercial Crime Bureau investigations revealed the man had sold the forged coupons on an auction website. 

He was arrested in February 2012 and later charged. He was convicted of two counts of money laundering and sentenced today.