Russell-Cooke’s financial crime team has recently acted for the founder of a fintech company who had two separate company bank accounts frozen, upon the granting of Account Freezing Orders (AFOs) by a Magistrates Court following applications made by a law enforcement agency under the Proceeds of Crime Act 2002 (POCA).
Having previously lodged an application for Leave to Judicially Review the AFOs on a nuanced point that potentially could have been precedent making, the financial crime team were later successful in their subsequent application to Set Aside the AFOs.
Furthermore, the team were not just successful in the civil AFO proceedings, but also in the separate criminal proceedings, where after nearly a year since the client had been arrested, they received a ‘No Further Action’ from the police.
Frances Murray had the following to say on the successful conclusion of the case:
“I am absolutely delighted to achieve a favourable outcome for the client, which was the result of the team working tirelessly on this matter for a total of nine months. It is without doubt the tenacity and meticulousness of our approach that contributed toward securing the best result for our client.”
This favourable conclusion has meant that Russell-Cooke’s financial crime partner, Frances Murray, maintains her 100% success rate acting for her clients on matters relating to AFOs, ever since their inception under the Criminal Finances Act 2017 (CFA)
Frances Murray, and the rest of the financial crime team, have a wealth of experience providing representation for individuals, limited companies and PLCs from the investigatory stages of a case, up to court proceedings, and are uniquely place to support clients, in particular, high (and ultra-high) net worth individuals and senior management of multi-national companies in a variety of sectors, that are the subject of Account Freezing Orders or Unexplained Wealth Orders.