A convicted money launderer is currently evading authorities after a significant discovery of gold bars in a luxury vehicle in the Midlands. The individual, aged 69, who was convicted of money laundering last year, absconded while awaiting sentencing.
The individual, from Surrey, was sentenced in their absence to five years in prison. Despite efforts by law enforcement agencies, they remain at large. The National Crime Agency (NCA) has launched a nationwide search and is urging anyone with information to come forward anonymously.
The investigation into the money launderer uncovered extensive illicit activities, with officers seizing eight kilos of gold bars and shavings during the initial arrest. This discovery shed light on the depth of the individual’s criminal operations.
Additionally, the individual had acquired a painting by the renowned German-British artist Frank Auerbach, titled “Albert Street, 2009.” The painting, purchased for £1.6 million in 2017, could now be valued at over £5 million. It is believed that another party had used the artwork as collateral for a £5 million loan from a UK auction house.
In a legal move to combat organised crime, the NCA successfully applied for the forfeiture of both the gold and the Auerbach landscape under the Listed Assets provisions of the Proceeds of Crime Act 2002. This legislation empowers law enforcement agencies to reclaim property suspected to be derived from or intended for criminal use.
During a recent hearing, the forfeiture was granted, paving the way for the items’ sale and the subsequent allocation of proceeds to the public purse. Under the Home Office’s Asset Recovery Incentivisation Scheme, up to half of the funds generated from these sales will be directed towards combating organised crime.
A senior investigator highlighted the significance of recovering criminal assets, emphasising the disruptive impact on serious and organised crime in the UK. The confiscated assets, including the gold and the painting, were likely intended to fuel further criminal ventures or sustain luxurious lifestyles for criminals.
The NCA’s relentless pursuit of criminal assets resulted in the recovery of approximately £70 million in the financial year 2022-23. A substantial portion of these funds has been reinvested in initiatives aimed at tackling serious and organised crime across the country.
As law enforcement agencies intensify efforts to locate the fugitive, the case serves as a stark reminder of the persistent threat posed by individuals engaged in illicit financial activities. The public’s cooperation in providing information is crucial in apprehending individuals like the fugitive and dismantling criminal networks that undermine societal safety and security.
