UK ARA sells property for more than GBP600,000

Even though plans for the abolition of the Assets Recovery Agency, and its absorbtion into the Serious and Organised Crime Agency, were telegraphed a year ago and passed in legislation in October last year, ARA continues to perform its duties well.

A total of nine properties in Liverpool, Oldham and Romford seized by the Assets Recovery Agency have been sold at public auction for GBP617,000.

The net proceeds of the sale, minus mortgage and other liabilities, is GBP479,000 which will now be recycled into the fight against crime.

The Agency using its unique powers of civil recovery had established that all of these properties were the proceeds of criminal activity ranging from drug smuggling, money laundering, drug dealing, and mortgage fraud to excise duty evasion.

Alan McQuillan, Interim Director of the Assets Recovery Agency said: "We want communities to know that their concerns about people profiting from crime are being acted on. We want criminals to know that there can be no hiding place for their ill-gotten gains.

"This is part of a continual stream of assets being taken out of the hands of criminals, sold and used for the benefit of everyone in the community."

The Proceeds of Crime Act 2002 created the Assets Recovery Agency and provided completely new powers to allow ARA to seek civil recovery of the proceeds of unlawful activity by an action in the High Court. The Agency can also issue tax assessments where there are reasonable grounds to suspect that there is taxable income, gain or profit from criminal conduct. But on 31 October 2007, the Serious Crime Bill received Royal Assent. The new Act will merge the operational elements of the Assets Recovery Agency (ARA) with the Serious Organised Crime Agency (SOCA), and the training and accreditation functions with the National Policing Improvement Agency (NPIA). Its provisions have not, as yet been brought into force.