Over £450,000 from CEO and a senior executive confiscated
29th November 2024
The National Crime Agency (NCA) has confiscated over £450,000 in cash from the CEO and a senior executive of a UK-based company suspected of money laundering.
The NCA obtained a confiscation order from the High Court following an investigation into the company’s financial activities over a number of years, after receiving intelligence suggesting the firm was being used to launder money.
The NCA believes the company was involved in a complex money laundering scheme involving the use of offshore accounts and shell companies. The cash confiscated by the NCA is believed to be the proceeds of this criminal activity.
The NCA’s investigation into the company is ongoing, and further arrests are expected.
The NCA said that the confiscation of the cash was a significant blow to the company and its executives, and sends a clear message that the NCA will not tolerate money laundering.
The NCA’s Director General of Investigations, Nick Bennett, said: “Money laundering is a serious crime that undermines the integrity of our financial system and can have a devastating impact on our communities.
“This confiscation order is a testament to the NCA’s commitment to tackling money laundering and sends a clear message that we will not tolerate those who seek to profit from this crime.”
The NCA is urging anyone who has any information about money laundering to contact them on 0370 496 7622.
Over £450,000 from CEO and a senior executive confiscated
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