（b） Although he has tried to disguise his criminal activity， that has merely involved him in further criminal activity； money laundering.

　　Under s.327 of the Proceeds of Crime Act 2002 it is an offence to conceal， disguise， convert， transfer or remove criminal property from England and Wales， Scotland or Northern Ireland. Concealing or disguising criminal property is widely defined to include concealing or disguising its nature， source， location， disposition， movement or ownership or any rights connected with it. These offences are punishable on conviction by a maximum of 14 years imprisonment and/or a fine.

　　Applying the general law to the problem scenario， one can conclude that Greg is an ‘insider’ as he receives inside information as a result of his position as a director of Huge plc. The information fulfils the requirements for ‘inside information’ as it： relates to particular securities， the shares in Kop plc； is specific， in that it relates to the company‘s take-over plans； has not been made public； and is likely to have a significant effect on the price of the securities. On that basis Greg is clearly guilty of an offence under s.52 of the CJA when he arranges for Jet Ltd to buy the shares in Kop plc.

　　It is equally apparent that Greg has attempted to disguise the source of his profit from the illegal activity of insider dealing by pretending that it is the result of legitimate work that he has carried out for his company Imp Ltd. As a consequence he would also be liable for prosecution under s.327 of the Proceeds of Crime Act 2002.

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