Proceeds of Crime Act 2002 news 10/12/2008 Confiscated criminal property auctioned for £150,000

Possessions seized from a Cumbrian man under the Proceeds of Crime Act 2002 (the Act) have been auctioned, raising £150,000 that will go to local communities, the Crown Prosecution Services, and the police force. This figure is a fraction of the £7m that has been demanded under the provisions of the Act.

The man, Noel Young, was convicted in April of money laundering and of controlling a serious fraud, importing luxury cars using fake passports and other identity documentation to avoid paying VAT on the vehicles. On his conviction, the judge ruled that his gains from criminal property were worth more than £10.5m, and issued a court order demanding the repayment of almost £7m. His wife and sister also received five-figure demands.

This is believed to be one of the largest confiscation orders made under money laundering law.

This sends a powerful message that those involved in serious criminal activity will have their assets seized, homes taken off them and the money reinvested into the police and communities to assist in the fight against serious and organised crime, said Detective Chief Inspector Jason Hudson, on behalf of the Cumbria police.

As Young is currently serving a seven-year sentence for his role in the death of a father of three in a 100mph car accident, his 28-month sentence for his breaches of the Proceeds of Crime Act 2002 and conspiracy to defraud HM Customs will begin when the prior sentence is completed.

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