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12/10/2007
ARA Rejects Criticism
The Assets Recovery Agency's performance has been strongly defended following criticism from the Public Accounts Committee.
It's report criticised the agency for focusing on recovering assets by court action, rather than negotiating settlements.
Noting that, so far this year in Northern Ireland, the ARA has frozen over £4m of assets, and seized or settled over half of it, ARA boss Alan McQuillan said the agency did not want to offer criminals "firesale deals".
He noted that the committee criticised them for concentrating on recovering the full value of criminals' illegal assets by court action, rather than negotiating settlements, which he said left them with some of their gains, responding: "It would be very easy for us to offer firesale prices for criminals.
"But how much to people really want me to leave drug dealers, pimps, pornography dealers - how much do people really want me to leave them with?
"If we can take them on to court or push them into a settlement, that takes much longer, but gets a much higher return."
Mr McQuillan said it was taking longer to get cases through court that originally envisaged - about three years in England and about four in Northern Ireland.
The agency is due to be disbanded from April next year and its duties transferred to the Serious Organised Crime Agency (Soca).
It was revealed earlier this year that the ARA had cost £65m over four years, but seized assets worth £23m.
However, Mr McQuillan commented: "We actually reached the turning point last year where we recovered more than the base funding we get from the Treasury each year.
"We were forecast to get to that point a year before, it was a year late."
(BMcC)
It's report criticised the agency for focusing on recovering assets by court action, rather than negotiating settlements.
Noting that, so far this year in Northern Ireland, the ARA has frozen over £4m of assets, and seized or settled over half of it, ARA boss Alan McQuillan said the agency did not want to offer criminals "firesale deals".
He noted that the committee criticised them for concentrating on recovering the full value of criminals' illegal assets by court action, rather than negotiating settlements, which he said left them with some of their gains, responding: "It would be very easy for us to offer firesale prices for criminals.
"But how much to people really want me to leave drug dealers, pimps, pornography dealers - how much do people really want me to leave them with?
"If we can take them on to court or push them into a settlement, that takes much longer, but gets a much higher return."
Mr McQuillan said it was taking longer to get cases through court that originally envisaged - about three years in England and about four in Northern Ireland.
The agency is due to be disbanded from April next year and its duties transferred to the Serious Organised Crime Agency (Soca).
It was revealed earlier this year that the ARA had cost £65m over four years, but seized assets worth £23m.
However, Mr McQuillan commented: "We actually reached the turning point last year where we recovered more than the base funding we get from the Treasury each year.
"We were forecast to get to that point a year before, it was a year late."
(BMcC)
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22 October 2004
Assets Recovery Agency freezes NI companies' assets
The Assets Recovery Agency has frozen more than £300,000 worth of assets from three registered Northern Ireland companies, and others in England and Spain. The agency also secured High Court orders against three members of one family from the Carrickfergus area named as Albert, Jessica and Paul Baxter.
Assets Recovery Agency freezes NI companies' assets
The Assets Recovery Agency has frozen more than £300,000 worth of assets from three registered Northern Ireland companies, and others in England and Spain. The agency also secured High Court orders against three members of one family from the Carrickfergus area named as Albert, Jessica and Paul Baxter.
24 March 2006
High Court freezes County Antrim couple's assets
The Assets Recovery Agency (ARA) has had the assets of a County Antrim Couple frozen by the High Court, in the first property freezing order ever to be issued in Northern Ireland. Darryl Price and Sarah Ward have had an estimated total of around £175,000 frozen, as well as their home in Primrose Gardens in Portrush.
High Court freezes County Antrim couple's assets
The Assets Recovery Agency (ARA) has had the assets of a County Antrim Couple frozen by the High Court, in the first property freezing order ever to be issued in Northern Ireland. Darryl Price and Sarah Ward have had an estimated total of around £175,000 frozen, as well as their home in Primrose Gardens in Portrush.
06 October 2005
IRA linked to £30m property seizure
Around 250 properties worth an estimated £30 million have been seized by the Assets Recovery Agency (ARA) in Manchester. Speculation is linking the seizure to the IRA following investigations into the business and financial affairs of Thomas "Slab" Murphy, an alleged leading member of the Provisional organisation.
IRA linked to £30m property seizure
Around 250 properties worth an estimated £30 million have been seized by the Assets Recovery Agency (ARA) in Manchester. Speculation is linking the seizure to the IRA following investigations into the business and financial affairs of Thomas "Slab" Murphy, an alleged leading member of the Provisional organisation.
24 March 2005
Assets Recovery Agency seize almost £5m
Nearly £5 million worth of assets have been seized from a man who is alleged to be a loyalist paramilitary. The Assets Recovery Agency (ARA) was granted an Interim Receiving Order at the High Court in Belfast last week for assets owned by Colin Robert Armstrong and his partner Geraldine Enda Mallon of Tullynewbank Road in Glenavy.
Assets Recovery Agency seize almost £5m
Nearly £5 million worth of assets have been seized from a man who is alleged to be a loyalist paramilitary. The Assets Recovery Agency (ARA) was granted an Interim Receiving Order at the High Court in Belfast last week for assets owned by Colin Robert Armstrong and his partner Geraldine Enda Mallon of Tullynewbank Road in Glenavy.
16 December 2004
Pearson welcomes latest Assets Recovery success
Security Minister and Chair of the Organised Crime Task Force (OCTF) Ian Pearson has praised the latest success of Assets Recovery Agency (ARA) after the assets of alleged alcohol smugglers were seized yesterday.
Pearson welcomes latest Assets Recovery success
Security Minister and Chair of the Organised Crime Task Force (OCTF) Ian Pearson has praised the latest success of Assets Recovery Agency (ARA) after the assets of alleged alcohol smugglers were seized yesterday.
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