Judge rejects use of frozen assets for legal expenses – OUT-LAW.com

Posted February 19th, 2021 in assets recovery, chambers articles, damages, enforcement notices, fraud, judgments, news by tracey

‘A recent ruling by the High Court in London has highlighted the benefits to businesses of using freezing orders to protect and recover assets, as well as the willingness of the courts in England and Wales to support the enforcement of judgments, experts in civil fraud and asset recovery have said.’

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OUT-LAW.com, 19th February 2021

Source: www.pinsentmasons.com

Recovery against insolvent estates – The 36 Group

‘Local authorities frequently have cause to seek recovery of sums owing from the estates of deceased persons, particularly (but not exclusively) in relation to care home fees owed by the deceased.’

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The 36 Group, 26th October 2020

Source: 36group.co.uk

‘Basil’ from the Hatton Garden security vault heist ordered to pay almost £6million – Crown Prosecution Service

‘One of the ringleaders from the Hatton Garden security vault heist has today been ordered to pay £5,997,684.93. Michael Seed, known as “Basil”, 58, was convicted in March 2019 for his part in the £13.69 million heist, believed to be one of the largest burglaries in English history.’

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Crown Prosecution Service, 1st October 2020

Source: www.cps.gov.uk

5SAH Business Crime – July 2020 Update – 5SAH

‘Featuring the following articles and videos from our barristers who are experts in the field of Business Crime and Proceeds of Crime work:
– 5SAH Video: Asset Tracing & Recovery – Tool Kit for Businesses – Post Covid19: Webinar featuring Gary Pons & Jonathan Benton
– David Stern features in Butterworths Journal of International Banking & Financial Law – May 2020 Edition on Cum-Ex.
– New Role for Private Prosecutions in the Wake of Covid 19: Counsel Magazine: Kevin Dent QC and Jeremy Asher.
– Dishonesty? Ghosh, Ivey got a surprise for you! (R v Barton): John Oliver and Alexa Le Moine for Lexis Nexis.’

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5SAH, 6th July 2020

Source: www.5sah.co.uk

Tommy Adams ordered to repay £1.24m for dirty cash laundering operation – Crown Prosecution Service

Posted February 28th, 2020 in assets recovery, money laundering, news, proceeds of crime by tracey

‘Thomas “Tommy” Adams has been ordered to repay £1,243,270.75 for his part in a dirty cash laundering network. Adams ran a money laundering operation with his associates, which was foiled in 2014 when undercover police heard him discussing the illicit activity at a central London café.’

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Crown Prosecution Service, 27th February 2020

Source: www.cps.gov.uk

Jailed solicitor must repay £3m or face more prison time – Legal Futures

‘A jailed solicitor involved in the UK’s biggest ever tax fraud must repay £3m of his ill-gotten gains or face a further nine years in prison, a judge at the Old Bailey has ruled.’

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Legal Futures, 18th December 2019

Source: www.legalfutures.co.uk

Lottery winner jailed after using fake ticket to win £2.5 million jackpot – Crown Prosecution Service

‘A former builder who scooped a £2.5m jackpot using a fake lottery ticket has been convicted of fraud by false representation today and sentenced to nine years in prison.’

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Crown Prosecution Service, 4th October 2019

Source: www.cps.gov.uk

Banker’s wife who spent £16m in Harrods escapes extradition to Azerbaijan on embezzlement charges – Daily Telegraph

‘A banker’s wife who spent £16million during a series of shopping sprees in Harrods has escaped extradition back to Azerbaijan on fraud charges.’

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Daily Telegraph, 26th September 2019

Source: www.telegraph.co.uk

Couple must repay £10.4 million after ripping off struggling firms to live high life on yachts – Crown Prosecution Service

Posted September 13th, 2019 in assets recovery, banking, bankruptcy, fraud, loans, news, proceeds of crime by tracey

‘A couple who made a fortune bankrupting companies to fund their lavish lifestyle have today been ordered to repay more than £10million.’

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Crown Prosecution Service, 12th September 2019

Source: www.cps.gov.uk

Albanian crime boss who ran multi-million pound drugs racked ordered to pay only £14,380 – Daily Telegraph

‘An Albanian drugs kingpin who ran a multi-million pound cocaine racket only has to pay back £14,380 after the Crown Prosecution Service (CPS) requested a “risible” sum, a judge has complained.’

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Daily Telegraph, 4th September 2019

Source: www.telegraph.co.uk

Failure to pay confiscation order leaves recycling fraudster facing further eight years in prison – Local Government Lawyer

Posted September 3rd, 2019 in assets recovery, confiscation, fraud, news, proceeds of crime, waste by sally

‘A defendant convicted of defrauding the electrical waste recycling industry has been sentenced to prison for a further eight years after he failed to meet a £1.3m confiscation order.’

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Local Government Lawyer, 29th August 2019

Source: www.localgovernmentlawyer.co.uk

NCA freezes £100m suspected to be from corruption overseas – The Guardian

‘More than £100m suspected to have been imported to the UK from bribery and corruption overseas has been frozen following a court order obtained by the National Crime Agency.’

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The Guardian, 14th August 2019

Source: www.theguardian.com

Diversion of a Business Opportunity: Recovery Partners & anor v Mr Rukhadze & ors [2018] EWHC 2918 (Comm) – Blackstone Chambers

‘The High Court recently had reason to consider liability where individuals, who owe fiduciary duties to a company, divert for themselves a business opportunity.’

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Blackstone Chambers, 25th February 2019

Source: www.employeecompetition.com

Courts uphold ‘ground breaking’ UK first unexplained wealth order – OUT-LAW.com

‘The High Court has upheld the UK’s first unexplained wealth order (UWO), dismissing a legal challenge to the order obtained by the National Crime Agency (NCA) earlier this year.’

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OUT-LAW.com, 16th October 2018

Source: www.out-law.com

SRA wins right to recover £800,000 costs from Blavo – Legal Futures

‘The Court of Appeal has allowed the Solicitors Regulation Authority (SRA) to try and recover the £800,000 it spent intervening in collapsed law firm Blavo & Co.’

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Legal Futures, 17th October 2018

Source: www.legalfutures.co.uk

HMRC seizes assets from almost 3,000 businesses as government ramps up pressure on late tax payment – The Independent

Posted October 15th, 2018 in assets recovery, debts, HM Revenue & Customs, news, repayment, statistics, taxation by tracey

‘HM Revenue and Customs seized assets from 2,833 businesses last year as the government ramps up pressure on firms not paying tax on time. The number of firms facing asset seizures jumped 45 per cent from 2016/17 and has increased more than fourfold since 2014/15.’

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The Independent, 15th October 2018

Source: www.independent.co.uk

The New POCA Frontier: Bitcoin and Electronic Currency, Shaping Asset Recovery in the 21st Century – Drystone Chambers

‘The question of whether the Proceeds of Crime Act 2002 (POCA) can be used to deal with Bitcoins¹ and electronic currencies has been the subject of some speculation by specialist practitioners recently. In my view it can be utilised, but it is not ideal. I will not deal with the technical difficulties in finding bitcoin accounts; what I will concentrate on in this article is finding the correct legal tools to recover the assets and what other options are available when it does not work.’

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Drystone Chambers, 23rd October 2017

Source: drystone.com

Taking the Profit out of Killing Animals – Is Asset Recovery the Answer to Poaching? – Drystone Chambers

‘It is clear that some iconic species of animals are on the brink of extinction. This is not just a crisis for those countries in which those species live, but a global issue. It will ultimately take a collaborative world-wide response to combat the problem.’

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Drystone Chambers, 6th November 2017

Source: drystone.com

Criminal system failing fraud victims, says expert – OUT-LAW.com

Posted January 17th, 2017 in assets recovery, criminal justice, fraud, news, victims by tracey

‘UK authorities must do more to prioritise the recovery of assets that have been defrauded from businesses, an expert has said.’

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OUT-LAW.com, 16th January 2017

Source: www.out-law.com

Police to hire law firms to tackle cyber criminals in radical pilot project – The Guardian

‘Private law firms will be hired by police to pursue criminal suspects for profit, under a radical new scheme to target cyber criminals and fraudsters.’

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The Guardian, 14th August 2016

Source: www.guardian.co.uk