Are you aware of the recent legislation regarding Unexplained Wealth Orders (UWOs) which were introduced by the Criminal Finances Act 2017 and came into force on the 31st of January 2018?
Following a 5 day trial in The Chancery Division of the High Court, Judgment was given yesterday in relation to an action brought by the estate of the late Mohammed Raja in which it was claimed that Nicholas van Hoogstraten was the beneficial owner of 2 properties which are in fact held in Trust for his 6 children. The Raja family had sought to persuade the court that the Trust was a “sham” designed to conceal that Nicholas van Hoogstraten was the true owner of the 2 properties.
Victoria Gregory considers the implementation of Financial & Trade Sanctions.
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