High Court strikes down challenge to first unexplained wealth order case
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Tom is AccountingWEB's technology editor, providing unbiased news and analysis from the accounting tech universe.
He started with AccountingWEB in the heady days of 2015, where he worked first as business editor and then editor of the site. After two years as editor of ICAEW Insights, he returned to AccountingWEB in 2022 with a specific...
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This could send shock waves through London's prime property market and result in a stampede of nervous sellers and large price falls.
One would have thought the conveyancing solicitor will have questions to answer (to the SRA) if they do eventually seize this woman's house.
Perhaps the NCA could review the shenanigans of a certain MP for Leicester who amassed (allegedly) £4 million in property on just an MP's salary. When asked where a certain large deposit into his bank account came from he blithely replied he had no idea. Oh well no evidence of any wrong doing there - said the Standards Comittee!! We'll gloss over the rent boys and Peruvian White Jumping Powder incident.
Extract above
'Brought in via the Criminal Finances Act 2017, an unexplained wealth order (UWO) allows government agencies such as the NCA or HMRC to investigate the source of funds'
The legalisation is 30 to late but its better than nothing, also why not name and shame this greedy individual who even challenged the National Crime Agency’s (NCA) application for two unexplained wealth orders.Such decadence, such arrogance, shows you just how she regarded the law.
London is hub known to be a vehicle to clean dirty money. This revelation not good for establishment. London has nothing but sordid institutions, a bloated financial sector, unfounded housing and insurance sector at the cost of pension sector. London economy sleep walking in falsehood, with unfounded value of money and various types prostitution rackets. How many employers (umbrella companies) have abused various tax avoidance schemes ie 'contractors Loan' by deliberate defrauding the HMRC and now the employees have to foot the bill since 1999.
These type of stories sound all good but in fact nothing comparing to hip of black money circles around England. Vijay Malya made run from India with 100s of millions of pounds and now we gave his sanctuary. Phillip Green send over a Billion pound to his wife in Malta while leaving his company with £500 million pension deficit.
That Mrs A is and her £22 million is nothing but of course a lot for those who loves to dwell in soap.
Australia has taken a strong step over property ownership by non residents. UK can never take that step and neither UK has any willingness to do so. I feel very angry that in the UK Capital growth has surpassed the revenue. Without mummy-daddy or Govt equity loan no first time buyer can buy a home.
The story sounds so well for have not like us who works hard and not adequately paid. But this excitement shall not go far. Mrs A is wealthy and can buy her way out and UK shall allow it of course provided she agrees to share her illicit wealth with the lawmakers.
India is a good example. This is the best way of siphoning money from India.
UK Govt is powerful enough to stop this nonsense right now and bring a balance but it doesn't have the willingness. Because we don't have any avenues to make money.
It is estimated there are up to 10,000 homes in the city of Westminster, which no one knows who the ultimate owner is, we may have found the owner of at least one of them.
A guy on the radio who had been shafted in a foreign country by a Mafia style government renowned for its current activities reckoned that the dirty money in the UK from said countries ran into £billions. Not surprising then that some of these people are now upping sticks and moving out so that their wealth is protected. Should help to reduce UK house prices - especially at the top end which presumably will wind its way down the chain.
No wonder said country is getting a bit uptight - think of all the Dosh they could lose.
I also wonder whether the lawyers will be looked at - as they will all be magic circle the answer is probably not, but they should be as a matter of course if it is shown that the money is dirty money. Father Christmas may tick a box but surely can't be taken seriously. Didn't I read that a certain prime minister of said country on a salary of £100,000 a year had been buying property here valued in the millions. I spent a week in their capital city a few years ago and was impressed by the standard of cars there - everything from Bentleys down and all driven by armed guards. No corruption there then.