May 12, 2019

NCA recovers £6m following money laundering probe

The UK National Crime Agency announced the recovery of approximately £6 million of assets from three alleged participants in a money laundering scheme involving the transfer of hundreds of millions of pounds through bank accounts in Asia and Europe.  The asset recovery, which includes an expensive automobile and a luxury hotel, is the result of an eight-year civil recovery investigation into UK businessman Jonathan Nuttall. According to the NCA, the funds used to purchase the recovered assets were embezzled from Russian state enterprises, or derived from frauds committed within the UK. The three individuals whose assets were seized entered into consent orders with the National Crime Agency rather than face trial on the recovery.

NCA news release