Unexplained Wealth Orders: Suspected money launderer gives up £10m of property – BBC News

‘Around £10m of property has been surrendered in a major victory against some of northern England’s most dangerous criminals. The apartments and homes were given up to the National Crime Agency by a Leeds businessman who investigators suspect of being a major money-launderer.’

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BBC News, 7th October 2020

Source: www.bbc.co.uk

National Crime Agency v Baker: Always Wear A Helmet When Cycling, Motorcycling or Jumping to Conclusions – The 36 Group

‘In National Crime Agency v Baker and Others [2020] EWHC 822 (Admin) the High Court discharged three Unexplained Wealth Orders (“UWOs”) and Interim Freezing Orders (“IFOs”) granted in respect of three properties on an ex parte application by the National Crime Agency (“NCA”).’

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The 36 Group, 4th May 2020

Source: 36group.co.uk

Unexplained Wealth Orders: The Weapon Against Dirty Money – Pump Court Chambers

Posted May 7th, 2020 in chambers articles, news, unexplained wealth orders by sally

‘Unexplained Wealth Orders (UWO’s) were introduced into law through section 1 of the Criminal Finances Act 2017 by inserting section 362A to I into Part 8 of the Proceeds of Crime Act 2002 (“POCA”) They require a person who is reasonably suspected of involvement in, or being connected with persons involved in serious crime, to explain the nature and extent of their interest in property and how that interest was obtained.[1] If the person cannot provide an adequate explanation or satisfactory evidence, the property becomes recoverable property, subject to the POCA 2002.’

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Pump Court Chambers, 28th April 2020

Source: www.pumpcourtchambers.com

A ‘setback’ for unexplained wealth orders – Law Society’s Gazette

Posted April 27th, 2020 in corruption, news, proceeds of crime, unexplained wealth orders by sally

‘On 8 April, two prominent Kazakhstan citizens successfully persuaded the High Court to discharge three unexplained wealth orders (National Crime Agency v Baker and ors [2020] EWHC 822 (Admin)).’

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Law Society's Gazette, 27th April 2020

Source: www.lawgazette.co.uk

Unexplained Wealth Orders by Samreen Akhtar – Broadway House Chambers

Posted April 17th, 2020 in chambers articles, news, proceeds of crime, unexplained wealth orders by sally

‘On 08 April 2020, Nurali Aliyev and his mother, Dariga Nazarbayeva, won a High Court challenge against Unexplained Wealth Orders (“UWOs”) that were obtained by the National Crime Agency (“NCA”). The UWOs centred on three properties based in London and valued in excess of £80m. Dr Nazarbayeva is a politician in Kazakhstan and the daughter of the former Kazakh president Nursultan Nazarbayev. The NCA, who suspected that the properties had been purchased using money embezzled by Mr Aliyev’s deceased father, have indicated that they will be appealing the High Court decision.’

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Broadway House Chambers, 14th April 2020

Source: broadwayhouse.co.uk

McMafia Order Misses the Mark – The Limitations of Unexplained Wealth Orders – 5SAH

‘Unexplained Wealth Orders (“UWOs”) have frequently been in the headlines since they came into force on 31 January 2018. They have been described in the media as, “McMafia Orders” and advertised as a new weapon in the war on illicit assets, creating an impression that they would single-handedly tackle the reputation of the United Kingdom as a haven for dirty money. The reality, as most lawyers recognise, is that UWOs are simply a type of disclosure order which have, as Lang J was keen to stress in her judgment in the case of NCA v Baker [2020] EWCA 822 (Admin) at para. 61 a, “relatively limited purpose”. They can “fill in the gap” when investigators cannot rely on full co-operation from other jurisdictions (e.g. the former Soviet states and the Caribbean tax havens).’

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5SAH, 10th April 2020

Source: www.5sah.co.uk

UK crime agency loses case against ex-Kazakh president’s family – The Guardian

‘Britain’s National Crime Agency has lost a high court attempt to force the daughter and grandson of a former president of Kazakhstan to explain where they got the money to buy £80m of property in London.’

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The Guardian, 8th April 2020

Source: www.theguardian.com

Unexplained Wealth Order focuses on London mansion – BBC News

Posted March 10th, 2020 in money laundering, news, unexplained wealth orders by tracey

‘A high-security mansion on one of London’s most exclusive roads is the target of the UK’s latest use of Unexplained Wealth Orders (UWOs).’

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BBC News, 10th March 2020

Source: www.bbc.co.uk

The Court of Appeal provides guidance on unexplained wealth orders in NCA v Hajiyeva – 5 SAH

‘Sarah Wood provides her Corporate Crime analysis for Lexis Nexis PSL in relation to recent case of NCA v Hajiyeva: Mrs Hajiyeva’s case attracted a great deal of publicity when the unexplained wealth order (UWO) was imposed upon her in February 2018. Known for her lavish spending in Harrods, her case caught the interest of the press—not least as it was the first UWO to have been obtained.’

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5 SAH, 25th February 2020

Source: www.5sah.co.uk

Woman who spent £16m in Harrods says court order is ‘intrusive’ – The Guardian

‘A woman who spent £16m at Harrods has launched a legal challenge to try to overturn the UK’s first unexplained wealth order (UWO) that would force her to reveal the source of her fortune.’

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The Guardian, 12th December 2019

Source: www.theguardian.com

Bart Casella writes about Unexplained Wealth Orders and changes to applications for Account Freezing Orders – 23 Essex Street

‘Before UWOs came into force on 31 January 2018, I provided seminars to solicitors on the potentially far reaching effects that the orders could have, including on mortgagees and trustees of property held by individuals who qualified for an order or in relation to enforcement by HMRC in respect of inappropriate tax planning. The reality is that the investigating authorities in the UK have thus far concentrated on the ‘low hanging fruit’.’

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23 Essex Street, 4th November 2019

Source: www.23es.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

New ‘unexplained wealth orders’ among UK anti-money laundering reforms – OUT-LAW.com

‘Those suspected of money laundering could be required to explain the origins of any unexpected wealth or risk forfeiture as part of a package of measures put forward for consultation by the UK government.’

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OUT-LAW.com, 25th April 2016

Source: www.out-law.com