It stands to reason that if an individual or group profits through breaking the law then they ought to pay this money back once found guilty.
It is a fairly straightforward concept and is indeed one supported by law in the form of the Proceeds of Crime Act. However, when it comes to the application of the law in proceeds of crime cases, things can quickly become far more complicated.
The forensic accounting experts at Frenkels Forensics have been called on to assist in a large number of proceeds of crime cases. This is because deciphering exactly how much a defendant profited from a crime and then determining the amount they are able to pay back is not always clear cut.
Take the example of Nikki Mistry, a 29-year-old man from Harwich who made the news in October this year. Mr Mistry was found to have made £393,000 in profit from selling stolen goods online. However, as well as time in jail, the dodgy dealer was only ordered to repay £91,930.78 through the Proceeds of Crime Act.
In many proceeds of crime cases, forensic accountants are instructed to determine the Defendant’s illegal and legal sources of income. For example, while Mr Mistry might have made large amounts of money from selling stolen goods online, he might also have made some money from selling his own items online – this would be legally obtained money and thus income that he should not have to pay back.
Frenkels Forensics can work with defendants in proceeds of crime cases like this to ensure legitimate sources of income are not included with the amount claimed.
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+.