ASSETS RECOVERY AGENCY FREEZES OVER £1 MILLION OF ASSETS

21 Jul 2005 02:42 PM

The Assets Recovery Agency has frozen over £1 million of assets in five separate cases across England during June and July linked to a range of criminality including money laundering, theft and large-scale counterfeiting.

In its latest case, the Agency has frozen over £100,000 of assets held by Oswald Theodore John of 5 Grange Terrace, Chapeltown, Leeds. The Agency will allege in its civil recovery proceedings that Mr John's stated income is insufficient to justify the level of assets he holds and that without a proper explanation that these assets have been unlawfully acquired. Assets include an £83,000 insurance bond and over £17,000 in bank accounts.

The Agency has lodged a claim for over £700,000 held in a US dollar account in the name of Javaid Riaz Syed of London. Edward James Phipps of Claverly, West Midlands and Dorian John Morris of Solihull, West Midlands are also named as respondents. The Agency contends that nearly £1 million cash was converted into US Dollar drafts via a bureau de change in London and ultimately paid into the US dollar account. The Agency alleges that the conversion of the cash into bankers' drafts was one phase of a larger and highly complex money laundering operation involving a number of international transactions where monies were deposited and transmitted without any credible commercial purpose.

During June, the Agency acted in two other cases to ensure that assets cannot be disposed of. Assets with an estimated value of at least £300,000 held by Nichola Marie Jackson, William Albert Priestly and the estate of Daniel Leonard John Blackett (deceased) have been frozen by ARA. An Interim Receiver took control of assets including the Virginia Water property where Mr Blackett was murdered in September 2004. The Agency contends that property and the balances in a number of accounts have been acquired through unlawful conduct linked to theft of motor vehicles and computer components.

The Agency has also restrained assets held by Melvin Kenneth Manby and Margaret Elizabeth Manby with an estimated value of £164,000. The Agency contends that these assets, including Mr and Mrs Manby's Newcastle-under-Lyme home and contents, a Chrysler Grand Voyager and the balances in several bank accounts have been acquired as a result of large-scale counterfeiting of DVDs and CDs. Mrs Manby is not implicated in any criminality but simply holds some of the assets.

Jane Earl, Director of the Agency said "These cases illustrate that the Agency is tackling a wide range of criminality from international money-laundering through to what has often been viewed as the low-risk crime of counterfeiting. We are committed to using our powers firmly and fairly to disrupt criminal enterprises and to recover the proceeds of unlawful activity."

The Agency has frozen a total of over £40 million of assets in civil recovery cases since April 2005 against a target of £25 million for the whole of 2005-06.

Note for Editors:

1. The Proceeds of Crime Act 2002 created the Assets Recovery Agency and provided completely new powers to allow ARA to seek civil recovery of the proceeds of unlawful activity by an action in the High Court. The Agency can also issue tax assessments where there are reasonable grounds to suspect that there is taxable income, gain or profit from criminal conduct.

2. Assets are usually restrained at an early stage in the Agency's proceedings. Orders are granted where ARA has presented a good arguable case that assets have been unlawfully acquired - at this stage only the Agency's initial arguments have been heard. Respondents then have the opportunity to present any facts to counter the Agency's arguments.

3. The Agency is playing its part in the multi-agency approach to deliver the Government's Asset Recovery Strategy. Under the cross government initiative 'Payback', the tracing of and recovery of assets is seen as an important element in the delivery of justice, and sends out a strong deterrent message. The overall aims of the strategy are to make greater use of the investigations of criminal assets in the fight against crime; recover money that has been made from crime or which is intended for use in crime; prevent criminals and their associates from laundering the proceeds of criminal conduct, and detect and penalise such laundering where it occurs; to use the proceeds recovered for the benefit of the community.

Assets Recovery Agency, PO Box 39992
London EC4M 7XQ
www.assetsrecovery.gov.uk