06/02/18

Cash Seizure Proceedings | Successful Application for the Release of over £200,000

Cash Seizure Proceedings | Successful Application for the Release of over £200,000
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KANGS have been assisting a Money Services Bureau (‘MSB’) with branches across London which were raided by the Metropolitan Police.

As a result of the searches, the Police seized cash, suspended the MSB’s bank account and obtained a court order authorising the detention of the cash which amounted to a sum in excess of £200,000.

Hamraj Kang of KANGS outlines this aspect of our involvement in these proceedings.

Release Of Detained Cash

An application for the release of detained cash can be made under section 297 of the Proceeds of Crime Act 2002 (‘the Act’) by the named owner of the cash.

A similar application for the release of detained cash can be made under section 301 of the Act by the ‘victim or other owner’ of the detained cash.

Although, cash seizure proceedings are civil proceedings, cooperation with the authorities in relation to these proceedings at the pre - charge stage can help disprove any alleged offences being investigated by the Police.

How We Successfully Assisted Our Client

  • Not surprisingly, the impact of the detention of such a substantial amount of cash was hugely disruptive and resulted in the company having to stop trading for a short while.
  • An application was made by Kangs Solicitors under Section 297 (3) and 301 (4) of the Act on the basis the cash seized was not ‘recoverable’ for the purpose of the Act.
  • This application was supported by a detailed statement from the Chief Executive Officer of the MSB proving that the seized cash was legitimately deposited with the company by its customers.

The Successful Result | Kangs Cash Detention Release Solicitors

As the result of the detailed application submitted by KANGS, the Metropolitan Police have confirmed that they will be releasing the detained cash in full, as it has been successfully proven that it belonged to customers of the MSB and is not ‘recoverable’ for the purpose of the Act.

Our clients were absolutely delighted with the outcome, given the detrimental effect the cash seizure had on the operation of the company.

Client Testimonial

Needless to say our client was ecstatic with the result and said:

“We are delighted at the result achieved by KANGS Solicitors. The intervention by the authorities caused what we believed to be irreparable damage to the operation of our business at the time. We are so grateful to KANGS Solicitors for their hard work and expertise, which lead to clearing the company’s name and the return of over £200,000 of company money held for almost 18 months. We thank Kangs Solicitors for their continued support through this very difficult time and for enabling the company to return to business as usual, which is a relief to us and all of our company employees”

How Can We Help You?

Cases of this nature require a legal team with specialist knowledge and extensive experience as they involve complex legal issues. KANGS complex crime and regulatory team provides a national service.

We have extensive experience of dealing with cases investigated and prosecuted by all the major prosecuting authorities such as the SFO, FCA, HMRC, CPS, Trading Standards, Environment Agency etc.

If you are a business, whether a sole trader, partnership or company, we are here to assist you manage your contact with the prosecuting authority and advise you on merits of an application for the release of the cash seized.

Our team of solicitors has a proven track record of assisting many individual and businesses achieve the best available result following a cash seizure.

Tel:       0333 370 4333
Email: info@kangssolicitors.co.uk

We provide an initial no obligation consultation from our offices in London, Birmingham, and Manchester. Alternatively, we provide initial consultations by telephone or video.

Hamraj Kang

Hamraj Kang
Senior Partner

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John Veale

John Veale
Partner

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Tim Thompson

Tim Thompson
Partner

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