There are now an increasing number of applications for Unexplained Wealth Orders (“UWO”).
We know that these relate to unexplained funds, assets or expenditure where there is no corresponding evidence of the legitimate funds consistent with expenditure or acquisition of the assets.
In addition, proceedings following conviction of an appropriate offence, for an order under the Proceeds of Crime Act 2002 (“POCA”) in relation to assets owned by the Defendant or someone on their behalf. The difference between UWO’s and POCA is that in the case of the former is that no corresponding requirement for the institution of a criminal proceedings.
There has been at least one successful Appeal against a UWO. This related to members of the family of Rakhat Aliyev who once described himself as “The Godfather”. In fact, he was the fraudulent leader of the ruling Kazakhstan family. He had embezzled millions of the country’s funds. His relatives, Dr Nazarbayeva and Mr Aliyev acquired, in the names of companies which he had incorporated, three properties in the United Kingdom worth millions of pounds.
UWO’s were granted against them. They successfully Appealed and the three Orders were discharged. Mrs Justice Lang upholding their appeals stated that there was “cogent” evidence that the companies owning the properties but found that evidence against the Appellants was unreliable. The Appellants claimed that the National Crime Agency “ NCA” who instigated the proceedings against ignore revenant evidence in their support.
The NCA are appealing the Judges decision. This will, hopefully, set out guidelines in respect of future proceedings. There should not be complacency as a result of Mrs Justice Lang’s ruling.
Everyone, with assets in excess of £ 50,000 is potentially at risk of being subject to UWO’s which can also be historical.
Davis-Law Associates have specialised representing defendants charged with White Collar Crime and POCA proceedings. They are well equipped to deal with these new weapons in the state’s armoury.
John Davis was one of the first Solicitor to be granted Higher Rights. He has the same status and rights of audience in all courts in England and Wales as members of the Bar. He regularly appears successfully in serious cases.