Further Unexplained Wealth Orders Obtained

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:

Unexplained Wealth Order Obtained

Unexplained Wealth Orders

The Circumstances

• 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

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

• 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 2002.

If you need help and assistance in respect of an Unexplained Wealth Order, please contact our team immediately through any of the following:

Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258171 | 020 7936 6396 | 0121 449 9888

John Veale
jveale@kangssolicitors.co.uk
0121 449 9888 | 020 7936 6396

Tim Thompson
tthompson@kangssolicitors.co.uk
020 7936 6396 | 0121 449 9888