When a group or individual have been found guilty of a crime, we would all agree that it is imperative that justice is done. And this justice does not simply come in the form of time in prison or suspended licences – it must also aim to retrieve the profits that have come through the criminal activity.
This is precisely what a proceeds of crime case aims to achieve. Frenkels Forensics is vastly experienced in working on cases of this nature because forensic accounting services are particularly useful when it comes to deciphering how much ought to be paid back for criminal activity.
Importantly, proceeds of crime cases are not always as clear cut as one might imagine. Take the recent example of a Liverpool drug dealer who worked for the Clarke family’s organised crime group who was ordered to pay back just £1 after a proceeds of crime hearing, despite him being found to have brought in a little more than £370,000 through hoarding drugs for the crime ring. However, it was declared that he had no assets and not profited much from the activity as he took many of the drugs himself, and so the proceeds were minimal.
It is often the role of forensic accountants to determine how much ought to be paid back in cases when someone has been found guilty of a crime. Usually instructed to act on behalf of the defendant, Frenkels Forensics work to show what money and assets have been acquired by perfectly legitimate means and which have come about thanks to illegal activity.
After all, an individual or business will often make much of their money from regular trading, with a separate side income coming from something more untoward. By providing a detailed report clearly showing the money trail, Frenkels Forensics can ensure a defendant only pays back the portion they have to in a proceeds of crime case.
For expert help in a criminal case involving proceeds of crime or any other type of financial dispute, contact Frenkels Forensics for an independent appraisal.
We can help assist individuals, companies, lawyers, barristers and accountants in conducting a full investigation into accounts to ensure a fair settlement for the prosecution or defendant.
Alternatively, if you’re looking for advice on any aspect of forensic accountancy, then do get in touch via Twitter, Google+, LinkedIn or by visiting our website www.frenkels.com
By Vitek Frenkel – find me via Google+.