Proceeds of Crime & Money Laundering
The Proceeds of Crime Act 2002 ("The Act") was introduced to disrupt and deprive offenders from benefiting from any proceeds gained as a result of criminal conduct.
The Act provided law enforcement, authorities and the police with a number of powers relating to such assets namely, imposition of restraint and/or freezing orders or seizure of assets. These powers can be exercised either under criminal confiscation or civil recovery.
Confiscation orders under the Act will be made if a suspect has obtained a benefit from or in connection with criminal conduct. Convicted offenders will be expected to pay a monetary sum relating to that benefit. Such an order also extends to assets other than those relating to the offence that the offender has been convicted of. Such orders can be detrimental to the financial welfare of the suspects and related third parties.
If a convicted offender does not pay the confiscation order, the Crown are at liberty to use other methods of collection and can apply for an Enforcement Receiver to sell the assets of the convicted offender.
The proceeds of crime can be recovered in civil proceedings against property when it has not been possible to obtain a conviction or when a conviction has been obtained but a confiscation order has not been made. In those circumstance the Crown can apply for a freezing order to preserve the assets until a civil recovery order has been made.
Money laundering and criminal confiscation are often related. Money laundering is the process by which suspects disguise ill-gotten gains.
Rainer Hughes is able to provide expert, discreet advice to individuals and corporations whose assets are being targeted; thereby protecting reputation and minimising the disruptive impact to lives and businesses.
We act on behalf of high-profile individuals to contest Account Freezing Orders and Cash Forfeiture Orders.
Acted on numerous Drug Related Criminal matters, achieving successful outcome for clients.
Advised on a serious financial crime matter. Rainer Hughes was able to liaise with the relevant parties to agree upon a compromise that was a positive outcome for our client.
Acted on behalf of a high-profile and high net-worth individual to successfully contest Account Freezing Orders and Cash Forfeiture Orders.