Jersey and UK share fraudster's £4million

Tuesday 11 July 2017

Jersey and the UK Home Office are to split the £4million in criminal proceeds of a fraudster who hid his assets in an island trust.

The UK's Solicitor General Robert Buckland QC signed an agreement with Jersey's Attorney General Robert MacRae QC this week.

The Law Officers’ Department and the Crown Prosecution Service worked together on the case of 47-year-old Adeel Mirza, an independent financial advisor convicted of nine counts of fraud.

Prosecutors helped arrange the sale the criminal's nine houses across London - the majority of Mirza’s UK property portfolio - which were all registered to a Jersey-based trust.

He was subsequently jailed for six years in 2013, and ordered to return his ill-gotten gains totalling £4,180,788.32.

Those assets will be shared between the two jurisdictions to reflect their shared efforts to bring Mr Mirza to justice, and ensure that he does not retain the financial benefits of his wrongdoing. 

Robert Buckland QC MP praised the UK and Jersey’s “good relations”, which he said had contributed to, “…effective cooperation in tackling crime.”

“I’m pleased that Mr Mirza’s ill-gotten gains will be split between the Home Office and Jersey, to the benefit of taxpayers. Criminals will not be able to keep the profits of their unlawful actions,” he commented.

The Attorney General added: “This case of close collaboration with the UK authorities once again demonstrates Jersey’s commitment to fighting serious financial crime. In particular it shows that Jersey trusts are no place to hide the proceeds of crime.”