UK Seizes US$10 Million-Worth of Properties From One Family
11 Nov 2019

Four members of a family have turned over more than a dozen properties across the United Kingdom and Spain worth US$10.3 million after British authorities accused them of buying them with dirty money.

The National Crime Agency says Shane Davies, 47, his wife Rhianna, 34, mother Sheila, 66, and sister Tracey, 48, turned over the properties – ranging from an apartment in Tenerife to an 18th century Georgian townhouse in Bath – conceding the buildings were purchased through illegal acts.

“NCA investigators believe that the portfolio was acquired through mortgage fraud and the sale of controlled drugs,” authorities said in a statement.

“The Davies family had claimed that the sizeable funds used to purchase the properties were the result of ‘gifts.’ This could not be substantiated.”

The Georgian townhouse – dubbed the Roman City Guest House – could still be found on some travel websites at the time of publishing. Room rates ranged from $74 to $160 to stay one night.

One website described the apartment as “tastefully decorated and furnished throughout” with “all the amenities that you would expect of a 3 star guest house.”

By Nicholas Wells, OCCRP, 8 November 2019

Read more at OCCRP

Photo: National Crime Agency

RiskScreen: Eliminating Financial Crime with Smart Technology

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