Case Study: JMW Act on Fraud and Asset Tracing Case

We are currently acting for a wealthy US citizen in a claim in the Chancery Division of the High Court (London).  Our client intended to invest approximately US$4.5 million in a tax efficient manner through a UK-based adviser.  It is believed that the funds placed with the adviser have been used by him for his own purposes and only a small proportion has been deposited into recognised investments on behalf of our client. 

The matter involves a complex series of international transactions, with funds being invested via a Seychelles registered company and into accounts held in Switzerland and Andorra.

We have successfully obtained a freezing injunction against the advisor to prevent any further dissipation of assets by him which might frustrate the enforcement of a judgment obtained by our client in the future.  The court proceedings are on-going and it is anticipated that a substantial judgment will ultimately be obtained on behalf of our client for the recovery of her monies.

Once the judgment is obtained, we will proceed with enforcement action and realise the adviser’s personal assets in the UK and, through agents in foreign jurisdictions, overseas.

 

If you are currently involved in a dispuite related to fraud and asset tracing speak to our expert solicitors by calling 0345 872 6666 or filling in our contact form.

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