Bullion raiders' money launderer strikes deal

The mastermind behind the laundering of proceeds from the pounds 26m Brink's-Mat bullion raid has struck a deal with lawyers fighting to recover the money, it emerged yesterday.

Kenneth Noye, who stabbed to death an undercover policeman staking out his home during the Brink's-Mat inquiry, reached a secret out-of-court settlement after exhaustive investigations into his financial affairs.

Noye, 42, of Sevenoaks, Kent, is said to have surrendered more than pounds 3m. He was cleared of murdering Detective Constable John Fordham in 1985 after arguing he acted in self-defence when he found the undercover officer in the grounds of his home. But he was given a 14-year sentence in 1986 and fined pounds 500,000 for his part in fencing the Brink's-Mat bullion. He was released last year.

Efforts to recover the Brink's-Mat proceeds are continuing more than 11 years after the robbery, Britain's biggest.