Successful Confiscation Order Reduction | Kangs POCA Team Background
Our client was convicted at Southwark Crown Court in 2014 following his involvement in a film tax credit fraud.
Confiscation proceedings were initiated under the Proceeds of Crime Act 2002 (POCA) in an attempt to recover the illegal profits generated through the crime.
A Confiscation Order was made against our client whose only available asset was a property in London which he sold in expectation that he would be able to satisfy his debt.
Upon completion of the sale the proceeds were insufficient to satisfy the Confiscation Order and our client faced the prospect of serving a default term of imprisonment for non-payment of the full amount due.
Kangs POCA team successfully made an application pursuant to section 23 POCA. The Court reduced the amount payable under the Confiscation Order to reflect the shortfall following the sale of the property.
Confiscation Order Reductions | Kangs POCA Specialists
On the 15th July 2010 the Court of Appeal handed down judgment in the case of R v Ward [2010] EWCA Crim 1932. This case was of great importance to applications to vary Confiscation Orders in the Crown Court pursuant to section 23 of POCA.
Where a defendant makes an application to the Crown Court for a variation of a Confiscation Order the Court must calculate the “available amount” as defined in section 9 of POCA.
However, during this process, the Court must calculate this figure from the date on which the application is heard and not look back to the date when the Order was made.
If, following that calculation, the Court finds that the available amount is inadequate to pay the Confiscation Order then the Court may vary the Order by reducing the amount owed.
How Can We Help? | Kangs Financial Fraud Solicitors
If you are facing confiscation proceedings or if a Confiscation Order has been made against you but you think your assets have been overvalued please contact us.
Who Do I Need To Contact For Assistance? | Kangs Fraud Team
Please do not hesitate to contact one of the following for an initial consultation:
Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258 171 | 020 7936 6396 | 0121 449 9888
John Veale
jveale@kangssolicitors.co.uk
07779 055907 | 0121 449 9888 | 020 7936 6396
Tim Thompson
tthompson@kangssolicitors.co.uk
0121 449 9888 | 020 7936 6396 | 07710 67 77 67
