Unexplained wealth orders: £1 million diamond ring purchased by banker seized
16 Jan 2019

Britain’s National Crime Agency (NCA) has seized a high value ring bought by a jailed Azerbaijani banker as part of an ongoing probe into its unexplained wealth order (UWO) case against him and his wife.

The Cartier diamond ring, which has a retail value of £1,190,000 and was originally bought by the banker at Harrods in 2011, was seized under the ‘listed assets’ provisions introduced by the Criminal Finances Act 2017.

The NCA said it believes the source of the funds to purchase the jewellery requires further investigation.

This seizure follows on from the NCA securing UWOs in February 2018 in respect of two properties with a combined value in excess of £22m, which are believed to belong to the banker and his wife Zamira Hajiyeva.

The order requires the Mrs Hajiyevato to explain how she and her husband could afford to buy their large house in Knightsbridge as well as purchase a golf club in Berkshire.

Mrs Hajiyevato’s shopping habits made headlines news last year after it was reported she had spent £16 million at Harrods over the years.

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2 Responses to “Unexplained wealth orders: £1 million diamond ring purchased by banker seized”
Agnes N Namoya

Agnes N Namoya January 15, 2019

I hope the Bank had in the mean time developed mechanisms on detecting this type of unusual behaviour sooner, as “lavish lifestyles” is one indicator of such. Lesson for all …..

Muthukrishnan Balakumar

Muthukrishnan Balakumar January 18, 2019

The above article clearly points out that the banks he’s employed with had no Compliance system in place. As pointed out by Agnes N Namoya above , hopefully the bank now has got a working Compliance structure for it.

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