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The former chairman of a now-defunct trade group that represented the U.K. payment services industry has denied accusations that he helped a gang of Chinese fraudsters route £850,000 from a boiler room fraud through his money services business in London. Dominic Thorncroft, 56, who led the Association of U.K. Payment Institutions, or AUKPI, from 2005 until his resignation in November 2019, went on trial at Southwark Crown Court in London on June 2 on charges of laundering money, violating anti-money laundering rules, failing to report suspicious transactions and wrongfully obtaining funds. The charges stem from dozens of transactions facilitated by...