16/03/15

Restraint Order Solicitors | Proceeds of Crime Act & SFO Case

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We were instructed by our client ‘SA’ after his assets were restrained by the Serious Fraud Office (SFO).  It was alleged that our client had received a tainted gift £175,000 from the ‘AL brothers’, one of whom had been convicted of mortgage fraud, the other had absconded. Under the Proceeds of Crime Act 2002 the Serious Fraud Office (SFO) or prosecuting body are allowed to seek money/assets from a third party to pay towards a confiscation order of someone who has been convicted of a relevant offence if that third party have received an unexplained payment/gift from that convicted person.

There was a full hearing of the matter at Southwark Crown Court at which our client and witnesses on his behalf gave evidence that the £175,000 was not a tainted gift but was in fact proper consideration for property that the AL brothers had purchased from our client in Pakistan.  Official documentation was also produced from Pakistan that provided evidence of the transaction.

It was up to the Serious Fraud Office (SFO) to prove on balance that the £175,000 was a tainted gift and it was ruled by the Court that they had not discharged this burden. Our client was thus able to keep his family home and car, and was awarded his legal costs.

The case was conducted by John Veale of Kangs Solicitors.

Should you require any representation regarding a mortgage fraud or similar matter, please do not hesitate to contact us.

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