UK NCA applies for PROCEEDS OF CRIME forfeiture order of PETR AVEN cash after alleged sanctions breach.

It has been reported.

• That the UK National Crime Agency has applied for a forfeiture order for £1.1 million purportedly belonging to Peter Aven, as the proceeds of crime, flowing from an alleged sanctions breach and
• The money was held by Mr Aven’s representative, Stephen Gater, who allegedly made transactions intended to circumvent sanctions.

The U.K. announced its sanctions on Aven back in March 2022, weeks after Russia launched its full-scale invasion of Ukraine, noting that the decision had been made by “building our own grounds rather than relying on those provided by the EU.”

• https://www.gov.uk/government/news/foreign-secretary-announces-historic-round-of-sanctions-15-march-2022

In addition to the U.K., Aven has been sanctioned by the U.S. and the European Union, which says he has “close links” to Russian President Vladimir Putin “dating back to the early 1990s.”

2022

• A billionaire Russian oligarch with a mansion in the Home Counties and a £300 million art collection is being targeted over allegations that he has broken international sanctions by buying and selling luxury cars.
• Two corporate bank accounts — containing around £1.5 million — used by Petr Aven, who has said that he spends all his money on art, were frozen by the National Crime Agency over claims that they were being used to dodge sanctions placed on him because of his connections to Vladimir Putin.
• Mr Akkouh said the NCA
• Other “very unusual transfers” occurred including on March 15, when sanctions were imposed on Mr Aven, when an associate’s personal account “paid more than £200,000 to two car dealer accounts”.
• “suspected that these transfers made purchases of vehicles on Mr Aven’s behalf or with funds that ultimately belong to him”.
• Mr Akkouh listed a series of other suspect transactions that had led to the freezing orders being imposed and told Westminster magistrates that the suspicion was that “the funds identified by the NCA were criminal due to their intended use in and origin from criminal activity, namely sanctions contravention and circumvention”.
• https://www.standard.co.uk/news/uk/petr-aven-art-collector-oligarch-accused-breaching-sanctions-b1012038.html

The report

1. Britain’s National Crime Agency has for the first time asked a court to permanently seize funds held by a Russian oligarch, arguing that they are “proceeds of crime,” because he allegedly moved the money in violation of sanctions regulations.
2. The agency, known as the NCA, applied on May 1 for a forfeiture order for 1.1 million British pounds (US$1.4 million) from Petr Aven, a billionaire who the U.K. says has “been involved in supporting the Government of Russia” during its war in Ukraine.
3. The money has been frozen since the U.K. sanctioned Aven in 2022.
4. The NCA believes it has now gathered enough evidence to prove the funds are derived from criminality –– in this case, allegedly shifting money to evade sanctions.
5. Stuart Hadley, an NCA spokesperson SAID
• “Legislation does not allow for the forfeiture of sanctioned assets simply because the individual is sanctioned,”
• “Seizure of assets would only be practical where criminal activity can be linked to those assets.”
6. according to Helen Taylor, a senior legal researcher at the advocacy group Spotlight on Corruption.
• The application to the Westminster Magistrates’ Court is precedent-setting,
• “The NCA’s bid to move from temporarily freezing to permanently seizing these assets is the first attempt by U.K. authorities to chase down cash suspected to have been moved in violation of Russia sanctions,”
7. Through his lawyer Aven declined to answer questions about the NCA’s forfeiture application. his lawyer, Thomas Cattee, said by email.
• “We are instructed that our client does not consider it appropriate to comment on the matters you raise while they remain the subject of on-going legal proceedings,”
8. In addition to the U.K., Aven has been sanctioned by the U.S. and the European Union, which says he has “close links” to Russian President Vladimir Putin “dating back to the early 1990s.”
9. Aven won a partial legal victory in Europe in April when the EU Court of Justice ruled that there was not enough evidence to keep him on the sanctions list. However, sanctions remain in place for now, and Latvia –– where Aven also holds citizenship –– has appealed that ruling.
10. The U.K. announced its sanctions on Aven back in March 2022, weeks after Russia launched its full-scale invasion of Ukraine, noting that the decision had been made by “building our own grounds rather than relying on those provided by the EU.”
11. The NCA then began investigating his business and real estate interests in the U.K. and zeroed in on Stephen Gater, who it says
• “acts as Aven’s representative.” Legal documents show that the agency questioned whether Aven’s wife, Ekaterina Kozina, was also holding money for him.
12. In May 2022, a judge approved the NCA’s request to freeze 1.5 million pounds.
• The agency suspected the money belonged to Aven but was being held by Gater, and in companies linked to the two of them, as well as with Kozina.
13. After two years of investigation, the NCA has now petitioned the court to seize most of that money.
14. Legal documents show the agency suspects transactions and payments made by Gator and Kozina were in breach of U.K. sanctions regulations or intended to circumvent them.
15. Hickman & Rose, the law firm listed in legal documents as representing Gater, declined to comment when contacted by phone and email.
16. If the NCA is successful in convincing the court to permanently seize Aven’s money, the victory will be more symbolic than substantive, considering the extent of his wealth.
17. According to Taylor of Spotlight on Corruption, she said.
• The ruling would be important Even though this 1.1 million pounds is small change for a billionaire oligarch, the NCA’s persistence in pursuing these funds sends an important signal that sanctions will not be dodged with impunity,”

SOURCE

https://www.gov.uk/government/news/foreign-secretary-announces-historic-round-of-sanctions-15-march-2022

https://www.occrp.org/en/daily/18859-u-k-crime-agency-asks-court-to-permanently-seize-russian-oligarch-s-money

https://globalsanctions.co.uk/2024/07/uk-national-crime-agency-applies-for-forfeiture-order-of-aven-cash-after-alleged-sanctions-breach/