A carpet company boss has been jailed for more than five years for drug dealing and money laundering.

Mark Glassey was arrested after a police raid found 1.3 kilos of amphetamine and 10.5 grams of cocaine at his home, as well as £51,040 in cash.

The 48-year-old Discount Carpets director pleaded guilty to possessing class A and B drugs with intent to supply, as well as possessing criminal property.

Deemster Graeme Cook sentenced him to five years and three months custody.

Glassey will be eligible for release after completing two thirds of the sentence.

Prosecuting advocate James Robinson told the court how police executed search warrants at Glassey’s Drury Terrace home in Douglas and at his carpet business at Spring Valley Industrial Estate on June 24 last year.

Amphetamine and cocaine were found at the house, along with a shoebox which contained heat-sealed packages of cash totalling £51,040.

Cash, a mobile phone and invoices were seized at the carpet company.

When interviewed by police, Glassey said that the drugs found at his home were for personal use.

He claimed that he was in financial difficulties so had been doing ‘foreigners’ which was where the cash came from.

The total amount of drugs found were 1,324.78 grams of class B drug amphetamine valued by police at £32,584, and 10.5 grams of cocaine valued at £882.

The cocaine was said to have a purity of between 38 and 45 percent while the amphetamine had been mixed with caffeine.

Glassey’s mobile phone was accessed and evidence relating to the supply of both drugs was found, as well as messages relating to the collection of money.

The court heard that he has no previous drug-related convictions.

Defence advocate Stephen Wood said: ‘Mr Glassey is ashamed at how he has behaved and for the pain he has caused his family.

‘He has placed himself in a position where he is going to be absent from their lives for some time.’

Mr Wood asked for credit to be given for his client’s guilty pleas and said that his remorse was genuine.

‘He is remorseful for the effect his actions may have on the employees of his business,’ said the advocate.

‘This is a man who everything was going well for. Things started to go wrong following the collapse of his marriage. This led to him consuming illicit substances. It has been a slippery slope with his personal use getting ever more expensive.

‘Class A drugs have got their teeth into him.’

Mr Wood said that a number of smaller packages of drugs had been found in the overall quantity of cocaine, which indicated there had been personal use and that Glassey had been dealing to fund his own habit also.

A proceeds of crime hearing to confiscate the money will be held on a later date which Mr Wood said may impact upon the carpet business continuing.

Deemster Cook told Glassey: ‘This must have been something that was going on for some time considering the amount of money found in your possession.

‘All in all you were a significant supplier of class A and B drugs in the Isle of Man.’