SFO uses listed asset order to seize fine jewellery and Rolex watches - Lexology

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On 23 September 2020, the SFO made its first use of a listed asset order in order to seize and forfeit gold and silvery jewellery and Rolex watches worth £500,000 from Nisar Afzal, who is alleged to have committed fraud against mortgage lenders. The items were taken from a safe deposit box of the former partner of Afzal, who fled to Pakistan in the mid-2000s.The SFO have had extensive dealings with Afzal in the past, for instance, seizing £1.52 million last year from the sale of two of his Birmingham properties. His brother, Sahir Afzal was convicted of fraud against mortgage lenders and was sentenced to 13 years in prison in 2011. A warrant remains out for Afzal's arrest.

Listed asset orders are a new tool available to the SFO which are used to confiscate assets that are believed to be the proceeds of crime. The SFO stated that: "This case reinforces our determination to use every tool available to us to prevent those who would bribe, cheat and steal from resting easily on their illicit gains".

The Link Lonk


October 03, 2020 at 12:26AM
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SFO uses listed asset order to seize fine jewellery and Rolex watches - Lexology

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