The fraud team at Cartwright King has been busily continuing with cases as they can, and with many courts allowing remote working, this has helped in bringing many further cases to a close.
One team in the fraud department specialises in defending the Proceeds of Crime Act 2002 Civil Account Freezing Orders on behalf of clients looking to recover frozen funds that they no longer have access to, regardless of whether they are involved in any wrongdoing. Many have not been aware there has been a problem that required investigating.
We feel that this is a power the authorities are likely to use even more during the current crisis. Many fraud linked criminal prosecutions are on hold which gives the authorities more impetus and time to concentrate on civil applications.
The last six months has seen many successes for the team, recovering over £250,000 returned for any clients that have been made subject to the Account Freezing Orders. These orders can paralyse businesses and individuals whilst the cases proceed, and can put businesses in a position where there is the potential for employees being left without pay and suppliers not being paid.
These orders are made without notice to allow the authorities’ time to investigate further. Prior to the formal order being granted the account holder will have endured a usually lengthy period of time when they cannot access their bank account and the bank are unable to explain why.
The initial order can range from three to 12 months or longer. Clearly there is the potential for this to cause innocent parties a problem with acute financial difficulty.
The account holder in these cases can seek a variation to allow for certain expenses to be paid. In the case of businesses it will be employee salaries, suppliers, tax and business rates. When it comes to the individual, payments could be food, utility bills, child care costs, mortgages or loans.
It is always worth ensuring that you have correct legal advice before embarking on any path. Finding that there is an order against you can cause an emotional response, but the first urgent order of business is to contact a legal professional and the critical advice you receive will allow a proper response to the authorities.
Cartwright King solicitors are all experts in their fields, finding clients the path to their individual justice. With experts in many different areas of law, we have the right specialist for your needs.
For more information on how Cartwright King lawyers assist clients, how we could help your case, or to find out more about the firm contact us here.
Cartwright King specialises in all types of asset forfeiture cases. If you have any queries in this area please contact Head of Fraud and Tax Sundeep Soor.
If you have any further queries around the above topic or otherwise, contact the firm here.