Partner Bambos Tsiattalou comments in Edward Fennell’s Legal Diary in relation to the National Crime Agency facing a £1.5 million legal bill for using an Unexplained Wealth Order (UWO) in one of its investigations.

 

Bambos’ comments were published in Edward Fennell’s Legal Diary, 16 July 2020, here.

“Unveiled as being the cunning new weapon in the armoury of the authorities to hit hard dodgy characters in their bank accounts, Unexplained Wealth Orders (UWOs) are starting to lose their appeal.

This follows the legal bill of £1.5 million stuck on the the National Crime Agency after an abortive attempt to impose UWOs on three London properties worth £80 million linked to a wealthy Kazakh family. “Although Unexplained Wealth Orders were hailed as a revolutionary tool in the fight to uncover alleged money laundering, they have proved costly and difficult to deploy.” commented Bambos Tsiattalou, of criminal defence firm, Stokoe Partnership Solicitors. “Ultimately, the taxpayer foots the bill and they would expect to see more bite rather than bark.””

Stokoe news header - glasses

15 Feb 2024

Partner Richard Cannon comments on the SFO and whistleblowers in The Times, City A.M. and The Law Society Gazette

READ MOREREAD MORE

Stokoe news header - computer

09 Feb 2024

Partner Maria Theodoulou discusses computer evidence in Thomson Reuters Regulatory Intelligence

READ MOREREAD MORE

Related News

Stokoe news header - glasses

15 Feb 2024

Partner Richard Cannon comments on the SFO and whistleblowers in The Times, City A.M. and The Law Society Gazette

Stokoe news header - computer

09 Feb 2024

Partner Maria Theodoulou discusses computer evidence in Thomson Reuters Regulatory Intelligence

Stokoe news header - royal courts

15 Jan 2024

Partner Richard Cannon comments on the Horizon IT scandal in City A.M., Law360 The Daily Mail