The National Crime Agency (NCA) has reported it has obtained a freezing order stopping the sale of 17 addresses as part of an ongoing investigation into a Leeds businessman with suspected links to serious organised criminals.
Granted in February at the High Court, the Property Freezing Order covers properties in Leeds, Cheshire and London worth approximately £10.5 million, which are under the control of 39-year-old Mansoor Mahmood Hussain.
As part of the same investigation the NCA obtained a serious organised crime Unexplained Wealth Order relating to eight properties in July last year, and in January secured a £1.13m Account Freezing Order connected to a company linked to Mr Hussain.
The application for the Property Freezing Order followed receipt of his response to the Unexplained Wealth Order, and includes nine further properties identified. The NCA said to the court that Mr Hussain had failed to comply with the requirements of the Unexplained Wealth Order, and this non-compliance provided a good case that a number of the properties are the proceeds of crime.
The Property Freezing Order will prevent the sale or transfer of the properties, and enable the NCA to further investigate the source of the funds used to make the original purchases to ascertain whether or not they were derived from unlawful conduct. If so, the NCA may seek the forfeiture of the properties.
Andy Lewis, Head of Asset Denial at the NCA, said: “As our investigation continues we are uncovering evidence of further assets linked to Mansoor Hussain. The orders we have in place ensure the assets cannot be sold or transferred. We use all available tools to carry out investigations into possible illicit finance, and these efforts are a vital part of protecting the people and economy of the UK from serious and organised crime.”
This is one of the reasons that both solicitors and estate agents dealing with conveyancing are required to carry our checks not only in respect of proof of funds but the source of funds too. If you have any query in respect of our anti-money laundering policy then do contract one of Alexander JLO’s expert lawyers who will be happy to assist.