A man with a £1.5m property empire has pleaded guilty to supplying drugs and money laundering, the Metropolitan police said. Richard Baxter, 50, of no fixed address, admitted conspiracy to supply heroin, conspiracy to supply cocaine and conspiracy to transfer criminal property at Kingston crown court on Friday. He was remanded in custody and will be sentenced at the same court on 5 December. The Met said Baxter was one of the key figures in a gang smuggling hundreds of kilos of cocaine and heroin, before laundering money through various companies. His property portfolio, which was discovered by specialist officers investigating criminal gangs in London, and includes homes in Surrey and south-east England, and a holiday chalet, has been seized. Spanish police arrested Baxter in Valencia and he was extradited back to the UK to be remanded in custody. DC David Lawn, who led the investigation, said: “We have zero tolerance for anyone who engages in criminal activities and are committed to combat the sale of dangerous and illegal drugs which pose a threat to the public. “The Met are deploying specialist resources to tackle drug criminality and make the capital a safer place to live. “Baxter’s conviction sends out a strong message to those who seek to profit from illegal drug trade: you will be held accountable for your actions in front of the court.”