The wife of a foreign banker jailed for fraud and embezzlement faces the prospect of having two residences worth a combined £22 million seized after the High Court in London threw out her challenge to the United Kingdom's first unexplained wealth order, or UWO. In a 25-page judgment Wednesday, Justice Michael Supperstone found that the case brought by the National Crime Agency, or NCA, against the banker's spouse warranted use of the UWO, a new measure through which the government can confiscate assets from suspected criminals and politically exposed persons, or PEPs, absent proof of legitimate income. "I consider that...
According to the judgement from the United Kingdom's Royal Courts of Justice, a challenge to the Unexplained Wealth Order targeting an unnamed politically exposed person from a non-European Economic Area has been dismissed.
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