Dubai apartments are among nearly $1bn worth of international assets, owned by British criminals, which UK authorities are looking to seize, it was reported this week.
A study by The London Evening Standard newspaper in England revealed the UK’s Crown Prosecution Service is chasing assets owned by 170 of the country’s most serious offenders.
While court orders have been issued for the return of the fraudulently obtained assets, very little of the GBP£584 million (US$923m) stash has been handed over to authorities.
The paper highlighted two tax fraudsters, who each owe US$25m have a long list of property assets, including two block of flats in Dubai.
In addition to luxury flats in the emirate, the haul also included several top-of-the-range cars, including a Mercedes and a Ferrari. The criminals, who are each serving a seven-year custodial sentence, are believed to have accumulated their wealth through an elaborate tax scam.
“We are determined to enforce these orders and do everything in our power to do so,” Max Hill, QC, chairman of the Criminal Bar Association, was quoted as saying. “Finding those assets is not easy and enforcing overseas presents particular challenges,” he added.