Article summary
The National Crime Agency (NCA) has announced that £5.6m has been seized following a NCA investigation into money held in UK bank accounts of family members of Javanshir Feyziyev (a serving member of the Azerbaijan parliament), derived from the Azerbaijan laundromat. The NCA has said that 'money would be moved via a complex network of shell companies that operated bank accounts in Estonia and Latvia, a process known as layering and that 'some of these transfers were accompanied by documents, including invoices and contracts, purporting to support legitimate and very substantial business transactions'. The NCA has said that District Judge, John Zani was 'satisfied there was overwhelming evidence that these documents were entirely fictitious and were produced in order to mask the underlying money laundering activities of those orchestrating the accounts'.
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