Three Unexplained Wealth
Orders have been obtained as part of a National Crime Agency investigation into
linked to what they describe as ‘a politically exposed person believed to be
involved in serious crime.’
The UWOs, obtained at the
High Court, relate to three homes in prime locations originally bought for over
£80m and held by offshore companies. The people and properties involved have
not been disclosed. Their owners will now have to explain how the properties
were obtained and Interim Freezing Orders mean they cannot be sold in the
Graeme Biggar, Director
General of the National Economic Crime Centre said: “The purchase of prime
property in London
is a tactic used to launder money and we will use all the powers available to
us to target those who try to do this.
“A priority for the NECC
is to ensure we explore every opportunity to deny assets linked to illicit
finance. Our aim is to prevent misuse of the UK’s
financial structures which undermines the integrity of the UK’s economy and institutions.”
The suggestion that prime London property is used as a way to launder and bank wealth will come as no surprise to most. The fact that this is only the second time such orders have been used may.
What is DealMakerz Prime?
In depth stories
Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.
High powered community
Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.
Exclusive guest articles
Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.