Russell Cooke advised the Provisional Liquidator and Liquidator of a money service bureaux on trading, investigation and Insolvency Act issues. At the heart of the investigation were thousands of money transfers conducted over a five year period in the sum of circa £1 billion and made to unknown individuals located in China.
On-going investigations indicate that the source of the transferred monies arises from alleged criminal activity linked to the supply of restricted substances and prostitution within the U.K. The Liquidator / Provisional Liquidator was one of the first insolvency holders appointed by the National Crime Agency (formerly the Serious Organised Crime Agency) with a remit to conduct civil law recoveries arising from potential criminal conduct.
Disruptive proceedings to end the Liquidation, brought by agents of the former sole director and shareholder (who remains in China), have been successfully defended.