Assets worth a total of £50 million belonging to two British nationals have been frozen following an unexplained wealth probe.
Authorities seized eight vehicles worth £600,000, a £1.9 million yacht and a bank account containing £2.6 million under the order.
Pair given three months to explain wealth
The anonymous pair and their associated companies have three months to prove that they legally obtained the funds used to buy the seized items.
If they fail to provide an adequate explanation or any response, the Crown Prosecution Service can permanently seize the assets under civil law without a criminal conviction being required.
Chief Crown Prosecutor Adrian Foster said the CPS had obtained an Unexplained Wealth Order and an Interim Property Freezing Order against the two British nationals and their associated companies in the United Kingdom.
He said they were legally required to prove how they obtained their wealth or risk having their assets seized following an application by the CPS’s Civil Recovery Team.
The pair have not been convicted or charged with any criminal activity.
High Court case to return within 28 days
The High Court granted the wealth order, and the case is due to return to the Royal Courts of Justice within 28 days for a hearing about whether the couple should remain anonymous. They are referred to as Mr X and Ms X.
The investigation was launched under the Proceeds of Crime Act to establish the origin of the money. The order was the second of its kind granted to the Crown Prosecution Service since unexplained wealth order powers were introduced in 2018.
Previous unexplained wealth orders
The powers were first invoked within two weeks of coming into force in January 2018 to freeze £22 million of assets belonging to Zamira Hajiyeva. Her frozen assets included a house in Knightsbridge and a golf club near Ascot.
In 2020, Leeds businessman Mansoor Mahmood Hussain was forced to give up a £10 million portfolio of 45 properties after he was suspected of laundering profits from crime bosses.
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Source: Metro News
