While bank robberies might make for better film plots, the most lucrative crimes are often far less glamourous. Not only that, but they are often carried out over a long period of time.
Proceeds of crime cases are designed to recover the money that has illegally been made, and when this has been slowly amassed over many years this can be a difficult task. This is why forensic accounting experts are often called upon to assist in these cases.
Take the example of two security company directors John Anah and Tony O’Gonna. It was reported in September that the co-directors of three security companies – ANCO UK Ltd, AA Guarding and Metro Guards – had been ordered to pay £666,697 under the Proceeds of Crime Act 2002.
The men had been providing unlicensed security guards to clients across the South East and were subsequently ordered to repay the money they had taken from customers for these illegal services. The challenge comes, however, in deciphering the total amount.
While it might appear obvious at first, often when businesspeople are found guilty of dodgy dealings under the proceeds of crime act, cases are muddied by the troublesome task of separating the legal income from the illegal income.
In proceeds of crime cases, the businesses or individuals in question can have legitimate sources of income alongside the money they make illegally. In the example of the security companies, they could have been providing licensed guards along with unlicensed ones, in which case only the money they have made from the illegally provided ones needs to be reclaimed.
Frenkels Forensics is experienced in helping with proceeds of crime cases. Often acting on the behalf of the defendant, the firm’s experts are able to disseminate between legitimate and illegal sources of income and assess exactly how much the defendant can and should repay.
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.
By Vitek Frenkel – find me via Google+.