14 Jan 2020
A Leeds businessman subject to the first “McMafia” order over alleged links to organised crime has had £1.13 million frozen by investigators.
Leeds entrepreneur Mansoor Mahmood Hussain, 39, is being asked to either explain the source of his wealth or hand it over to the National Crime Agency.
The latest order, granted at Westminster Magistrates’ Court on January 9, involves funds in a bank account linked to the company 500 M Ltd.
In July the NCA revealed it had also been granted an unexplained wealth order (UWO) in relation to Mr Hussain’s £10 million portfolio of eight UK properties.
UWOs were brought in as part of powers dubbed McMafia laws, after the BBC TV drama series and a factual book that inspired it.
The orders, which came into force at the beginning of 2018, allow investigators to look into the source of wealth of public figures at risk of bribery, or those suspected of links to serious organised crime.
The UWO against Mr Hussain was the first to be solely based on alleged links to organised crime.
Investigators claim the properties were funded by a number of criminal associates involved in drug trafficking, armed robberies and supplying firearms.
By Daniel Sheridan, Yorkshire Evening Post, 13 January 2020
Read more at Yorkshire Evening Post
RiskScreen: Eliminating Financial Crime with Smart Technology
You can claim CPD minutes for this content, by signing up to our CPD WalletFREE CPD Wallet