Proceeds of Crime
The SFO traces, restrains and recovers the proceeds of complex economic crime, including fraud, bribery and corruption.
Applies to England, Northern Ireland and Wales
Documents
Details
When individuals or companies commit a crime, the law mandates that they must not retain any of the proceeds. This includes any physical assets such as cars or houses that they have acquired with the proceeds of crime.
We pursue these assets from when we first open an investigation, working to uncover, protect and seize assets that have been concealed through trusts and complex corporate ownership structures, or spread across different jurisdictions around the world. Wherever possible, we also use the proceeds of crime to compensate victims, both in the UK and overseas.
We also use the full range of powers under the Proceeds of Crime Act to undertake standalone investigations, including using civil recovery and forfeiture powers to recover criminal property, which does not require a conviction to enforce.
Read the latest news from our Proceeds of Crime and International Assistance division below and follow the SFO on LinkedIn and X for regular updates.
Recent Proceeds of Crime action taken by the SFO:
May 2024
The SFO successfully recovered over £36k in proceeds of crime from the bank account of Emmanuel Okoyomon, the former managing director of the Nigerian state-owned banknote printing company, Nigerian Security Printing and Minting Plc. More on this here.
February 2024
The SFO secured over £153,000 from Louise Worsell, a former executive we convicted for her role in the £500 million steel trade fraud, who was sent to prison for three years in 2023. More on this here.
January 2024
£220,000 was recovered by the SFO to go back to victims of the largest “boiler room” fraud ever uncovered in the UK. The money has been recovered from the convicted fraudster Jeffrey Revell-Reade from the sale of his waterfront Sydney property. More on this here.
November 2023
A £674,000 house in Ascot was seized from the convicted fraudster, Gerald Smith, after SFO investigators uncovered him to be the property’s true owner. More on this here.
November 2023
The SFO confiscated £250,000 from Achilleas Kallakis, one of the convicted fraudsters behind the UK’s largest ever mortgage fraud, held at the prestigious West London sports club, The Queen’s Club. More on this here.
August 2023
The SFO successfully applied to the court for management receivers to be appointed in relation to three luxury properties belonging to Gulnara Karimova. More on this here.