23/10/19

New Unexplained Wealth Orders Obtained

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The National Crime Agency (NCA) has recently obtained three further Unexplained Wealth Orders (UWOs) at the High Court.

For further information on UWOs please refer to previous articles posted to this website on:

The Circumstances | Kangs Financial Crime Investigation Team

  • These new Orders cover three residential properties in London which were purchased for an amount in excess of eighty million pounds which amount originated from offshore accounts
  • Investigators are currently looking in to the provenance of these funds
  • Interim Freezing Orders have also been granted in order to prevent the assets being sold or transferred, or their value being dissipated in any other manner, while there is an on- going investigation

Official Comment | Kangs Serious Fraud Advisory Team

Andy Lewis, Head of Asset Denial at the NCA, commented upon the deployment of UWOs and explained that they were a powerful tool to assist in the investigation of illicit monies flowing into the UK and to discourage such activity in the first place. 

Operation of A UWO | Kangs Complex Fraud Defence Solicitors

  • An UWO can be made in respect of any property in the world thought to be worth more than £50,000, if a court is satisfied that there is reasonable belief that an individual has an interest in it and there are reasonable grounds to suspect that the purchase of the property could not have been accomplished other than by using unlawfully obtained income
  • An individual against whom an Order is made, will be given a limited amount of time to respond and explain the source of the funds and the legitimacy of their provenance. Failure to respond can be relied upon within civil recovery proceedings under the Proceeds of Crime Act 2002

How Can We Help? | Kangs National Complex Fraud Experts

Kangs Solicitors has a dedicated team experienced in representing clients who are being investigated in respect of every aspect of alleged criminal activity including very serious and complex fraud

We also have significant experience in advising clients subject to proceedings under the Proceeds of Crime Act 20020.

If we can be of assistance, our Team is available via telephone 0333 370 4333 and by email info@kangssolicitors.co.uk.

We provide initial no obligation discussion at our three offices in London, Birmingham and Manchester.

Alternatively, discussions can be held virtually through live conferencing or telephone.

Hamraj-khan

Hamraj Kang

Email Hamraj

07976 258171

020 7936 6396

0121 449 9888

John Veale

John Veale

Email John

0121 449 9888

020 7936 6396

0161 817 5020

Tim-Thompson

Tim Thompson

Email Tim

0121 449 9888

020 7936 6396

0161 817 5020

Civil Fraud, Financial Investigations, Unexplained Wealth Orders
Following a slow uptake, UK investigators and enforcement authorities are warming to the deployment of an Unexplained Wealth Order (“an UWO”) in the pursuit of the recovery of assets from anyone suspected of having benefited from their involvement in crime. Owners of substantial property portfolios, seemingly with particular regard to London, are in the firing […]
11/11/19
Unexplained Wealth Orders
Further to his article which appeared on this website on July 30th 2019 Tim Thompson of Kangs Solicitors reports upon a further Unexplained Wealth Order(‘UWO’) obtained by the National Crime Agency (‘NCA’). The Background | Kangs NCA Defence Solicitors The NCA discovered that a Northern Irish woman had suspected links to serious organise crimethrough paramilitary […]
13/08/19

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