On 22nd December 2020 The National Crime Agency (NCA) announced it had recovered more than £500,000 linked to a car firm set up in order to receive fraudulent funds.
National Crime Agency Investigation | Rosenblatt’s Financial Crime Team
The NCA announced that an order in the sum of £526,912.07 was granted by Mrs Justice McGowan at a High Court civil recovery hearing on 18th December 2020. The recovered funds were held in an account registered to a liquidated company Niche Cars Limited.
The NCA’s investigation, which was assisted by West Yorkshire Police, established that Niche Cars Limited never had any stock or legitimate source of income despite claiming the nature of its business was ‘the sale of used cars and light motor vehicles’. Rather, it was set up by lone Director and shareholder Amjid Ali (aka Amjad Rashid), solely as a means of receiving money derived from fraud. Ali, 40, from Bradford, has a number of criminal convictions.
Andy Lewis, Head of Asset Denial in the National Crime Agency said: “Taking control of funds after civil proceedings might seem like purely a white collar matter, but we believe there are links in this case to violent organised crime groups in West Yorkshire.
“The NCA pursues any available means of recovering illicit wealth, in this case using civil recovery powers to take more than half a million pounds out of the financial system.”
Sarah Pritchard, Director of the National Economic Crime Centre (NECC) at the NCA, said: “Tackling illicit wealth is key to disrupting serious and organised crime and reducing its harmful impact in communities. We continue to work tirelessly to identify and recover the proceeds of crime.”
Rosenblatt can help
Rosenblatt has a wealth of experience in financial crime and is uniquely placed to support clients that are the subject of a National Crime Agency investigation having being involved in some of the most high profile investigations into multi-million-pound, cross jurisdictional fraud cases in the UK.
https://www.rosenblatt-law.co.uk/services/financial-crime/#financial-crime
https://www.rosenblatt-law.co.uk/services/serious-and-general-crime/
