Release of £1.3 million secured from frozen account under new POCA provision

A District Judge at Leicester Magistrates’ Court has ordered the release of approx. £1.3 million from three bank accounts that were subject to Account Freezing Orders.

The funds were ordered to be paid to an overseas company which made an application under s303Z17A of the Proceeds of Crime Act 2002. The company argued that it was both the rightful owner of the funds and a victim of fraud.

Ryan Dowding acted for the successful applicant throughout, instructed by Adele Whaley of Greenwoods Legal LLP.

Nicholas Yeo and Ryan Dowding have written about s303Z17A for the New Law Journal. For more information click here

30th July 2024