Multi Million Pound Confiscation Hearing Settles

Vivian Cohen, one of the forensic partners at Frenkels, has managed to help settle a multi-million pound confiscation hearing at Kingston Crown Court.

Our client had pleaded guilty to 4 regulatory offences of having sold certain medicinal products without a required licence.  She was also charged with others, including her husband, of selling counterfeit drugs including Viagra.

Under the Proceeds of Crime Act 2002 (POCA) the Crown alleged that she had benefited from her actions during a 6 year period in an amount in excess of £15million. The Crown wished to confiscate any realisable assets that she owned including the family home up to this sum.

Vivian was instructed on behalf of the Defendant to prepare a forensic accountant’s report for use in Court. The Crown had assumed that every sale that had been made within companies in which she held only a small share was tainted and represented the proceeds of crime.

In his forensic accounting report Vivian was able to demonstrate that the benefit to the Defendant did not exceed £28,000 which represented the sale value of the medicinal products she had sold without a licence and had pleaded guilty to.

The Judge had suggested that the first 3 days of trial be set aside for the forensic accountants on both sides to meet and try to reach an agreed settlement figure.

After much negotiation between the accountants and Counsel for both sides, a figure of £29,000 was agreed by the Crown which was close to the figure Mr Cohen had concluded in his Forensic report.

This represented a great victory for the Defendant who was facing financial ruin.

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