Porsche, Luxury Apartment Are Seized in U.K. Wealth-Order Case
08 Jan 2021

U.K. police seized a Porsche Cayenne and a luxury penthouse apartment from a convicted murderer as part of its push to crack down on dirty money.

The assets, with a combined value of more than 800,000 pounds ($1.08 million), belonged to Mohammed Nisar “Meggy” Khan, the National Crime Agency said in a statement Thursday. Khan was head of an organized crime group involved in drug supply, firearms offenses and violence across West Yorkshire, the agency said.

The Porsche bore the registration ‘MEG5S’ and was obtained through crime, the NCA said. The funds used to buy the apartment in Huddersfield, were provided by Leeds-based businessman Mansoor “Manni” Mahmood Hussain, who was subject to the U.K.’s first successful Unexplained Wealth Order.

The British government introduced UWOs three years ago to help stop a growing problem of criminals and dictators using the country to hide their wealth. The wife of a jailed Azeri banker had a golf club outside London and her home steps away from Harrods seized as part of a similar case.

By Ellen Milligan, Bloomberg, 7 January 2021

Read more at Bloomberg

RiskScreen: Eliminating Financial Crime with Smart Technology

Advance your CPD minutes for this content, by signing up and using the CPD Wallet