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23/07/2004
ARA seize £1.2m 'linked to human trafficking and money laundering'
Assets worth an estimated value of £1.2 million have been confiscated after the Assets Recovery Agency used its powers in England and Wales for the first time.
An interim receiver this afternoon took control of the holdings after the Agency satisfied the High Court that there was a "good arguable case" that property had been obtained as a result of "unlawful conduct and is linked to human trafficking and money laundering".
The Agency alleged that proceeds have been laundered through a network of accounts both in the UK and abroad and there was "substantial property that can be recovered from these crimes".
On 19 July, the High Court in London granted the Agency an Interim Receiving Order which freezes property including residential premises and bank account balances – believed to be worth £1.2.million.
The move ensured that the assets cannot be disposed of whilst investigations continue.
The Interim Receiver will manage the seized assets to maintain their value whilst investigations continue. If after further investigation the Interim Receiver's report shows that assets represent the proceeds of crime, the agency will apply for a Civil Recovery Order.
Jane Earl, Director of the Agency, said: "We are committed to tracking down the proceeds of crime. By taking assets out of circulation we are making sure they cannot be used to fund even more crime. This in itself can severely disrupt criminal enterprises."
(gmcg)
An interim receiver this afternoon took control of the holdings after the Agency satisfied the High Court that there was a "good arguable case" that property had been obtained as a result of "unlawful conduct and is linked to human trafficking and money laundering".
The Agency alleged that proceeds have been laundered through a network of accounts both in the UK and abroad and there was "substantial property that can be recovered from these crimes".
On 19 July, the High Court in London granted the Agency an Interim Receiving Order which freezes property including residential premises and bank account balances – believed to be worth £1.2.million.
The move ensured that the assets cannot be disposed of whilst investigations continue.
The Interim Receiver will manage the seized assets to maintain their value whilst investigations continue. If after further investigation the Interim Receiver's report shows that assets represent the proceeds of crime, the agency will apply for a Civil Recovery Order.
Jane Earl, Director of the Agency, said: "We are committed to tracking down the proceeds of crime. By taking assets out of circulation we are making sure they cannot be used to fund even more crime. This in itself can severely disrupt criminal enterprises."
(gmcg)
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