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 - books

25 Oct 2021

Stokoe Partnership Solicitors ranked in Chambers & Partners UK 2022

READ MOREREAD MORE

Stokoe news header - books

20 Oct 2021

Fiduciary Duties and the liability to account: setting a proper limit

READ MOREREAD MORE

Related News

Stokoe news header - books

25 Oct 2021

Stokoe Partnership Solicitors ranked in Chambers & Partners UK 2022

Stokoe news header - books

20 Oct 2021

Fiduciary Duties and the liability to account: setting a proper limit

13 Oct 2021

Stokoe continues growth with the acquisition of two more criminal defence solicitors