A man from Wolverhampton has agreed to pay the National Crime Agency £110,000 following a Civil Recovery and Tax investigation into his property dealings.
The Agency alleges that Kyle St. Clair, 32, funded the purchase of property through the proceeds of crime including tax evasion, money laundering and fraud.
The NCA also asserted that St. Clair laundered criminal funds from tax evasion through the purchase of properties, and that he employed a laundering process involving the use of third parties in an attempt to conceal the fact that he was the true beneficial owner of the properties. Both properties were located in Wolverhampton, and included his residential address in Upper Penn.
Andy Lewis, Head of Civil Recovery at the NCA said: “Civil recovery is a powerful way to take the proceeds of crime from individuals. It is one of the ways we look to ensure that those with illegitimate sources of income are not allowed to enjoy the benefit of that wealth.
The NCA will use every available tool, including where appropriate taking civil rather than criminal action, to disrupt and help prevent money laundering by criminals and their associates.”
The settlement will require St Clair to sell a proportion of his property portfolio in order to pay the NCA the £110,000 civil recovery claim.
30 June 2022