Confiscation orders play a central part in Proceeds of Crime Act (POCA) offences, as these two case studies show. One of our proceeds of crime solicitors, partner Paolo Martini acted in both cases. In the first, his forensic analysis of financial data enabled a much lower figure than the initial sum of £1 million of unidentified bank credits to be presented to the Crown. In the second, an application for a confiscation order relating to hidden assets was successfully resisted.
In this case, the application by the Crown was for a benefit figure that was calculated on the basis of unidentified credits paid into various bank accounts in both the defendant’s name and his wife’s name. These unidentified credits totalled near to £1 million. There was interplay with the defendant’s Individual Voluntary Arrangement entered into many years before the POCA application for the confiscation order.
The amount of the benefit figure mattered because the defendant had a successful business that he went back to once he was released from a prison sentence. Paolo Martini’s careful analysis of the defendant’s bank accounts, invoices and money transfers allowed counsel to present to the Crown a much-reduced benefit figure that was accepted.
In this Proceeds of Crime Act POCA hidden asset application case, the defendant was acquitted at trial of conspiracy to supply cocaine. The defendant had admitted conspiracy to supply cannabis. However, the Crown then made an application for a confiscation order making a case for hidden assets. After detailed analysis, our proceeds of crime solicitors were able to persuade the Judge that the defendant only had very limited available assets. As a result, the application for the confiscation order was successfully resisted.
An allegation of a Proceeds of Crime Act breach, followed by an intention to investigate by the relevant regulatory authority can cause great stress and disruption to the person/persons involved. Our team of specialist Proceeds of Crime Act Solicitors has successfully defended many clients faced with POCA investigations, often involving detailed financial analysis to prove the facts of the case in Court.
Investigations can come out of the blue. Contact us or call us immediately for an initial discussion. We have the experience and expertise to help, advise and make a difference.