Man faces money-laundering charges

An Onchan man who's been accused of money laundering in a case involving hundreds of thousands of euros has been remanded at the Isle of Man Prison.

58 year old Elton Edwin Sheldon, of Ballachrink Drive, appeared at Douglas Courthouse earlier this week.

Sheldon pleaded not guilty to converting a credit balance of more than 301,000 euros which is believed to be criminal property.

He also denied two counts of removing criminal property - this time credit balances totalling 531,000 euros - and possession of 301,000 euros of criminal property.

All of the charges date between January 18 and January 31 last year.

A fifth charge of forgery can only be tried at the Court of General Gaol Delivery.

Committal proceedings - where the case is elevated to that court - will take place on October 10.

An application for bail was refused - he'll next appear in court on September 19 via live link.