- February 12, 2019
- Posted by: FinancialCrimeServices
- Category: Uncategorized
student who paid £390,000 up front in rent for a Knightsbridge apartment must
hand over nearly half a million pounds, following an investigation by the UK’s
National Crime Agency (NCA).
Freezing orders for three HSBC accounts held by 22-year-old Vlad Luca Filat were granted in May 2018 – under new forfeiture provisions introduced by the Criminal Finances Act 2017 – after NCA financial investigators suspected the funds derived from illegal activity by his father, Vladimir Filat, the ex-Prime Minister of Moldova.
The ex-PM is currently serving a nine year prison sentence after he was convicted in June 2016 for his part in the disappearance of $1billion (£646m) from three Moldovan banks. The missing money is equivalent to an eighth of the ex-Soviet republic’s entire GDP.
With no registered income in the UK, HSBC records showed that the Vlad Luca’s accounts and living expenses were funded by large deposits from overseas companies, mainly based in Turkey and the Cayman Islands. Multiple cash deposits were also identified across the UK branch network, with £98,100 paid in over one three-day period.
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