BRADFORD BONEY: NCA 'settles' another money laundering case with no prosecution
TWO brothers from the Bradford area have agreed to pay the National Crime Agency (NCA) approximately £4.3 million following a civil recovery investigation into their multi-million pound property portfolio.
The Agency alleges that it was funded by the proceeds of their unlawful conduct including money laundering and fraud.
The civil recovery order was reached by agreement and does not amount to an admission of guilt by Parvez Akhtar or Zaheer Akhtar Nazir.
The agency usually pursues this avenue if it does not have sufficient evidence for a criminal case.
Parvez Akhtar, 55, known locally as 'Boney' (above), and his brother Zaheer Akhtar Nazir, 50, both of the Stanningley area, Pudsey, West Yorkshire have been property developers in the area for over 30 years.
In its case at the High Court the NCA alleged the brothers used their property portfolio to launder hundreds of thousands of pounds worth of criminal monies on behalf of other prolific criminals.
The Agency further alleged that Akhtar has been involved in a range of serious criminality since the 1990s including international VAT fraud, money laundering and fraud. The evidence uncovered by the investigation showed he had links to a number of serious organised criminals both in the UK and overseas.
Akhtar is well known in the Bradford area and has previously appeared in YouTube videos showing off his high value cars and sporting memorabilia (above).
Andy Lewis, Head of Civil Recovery at the NCA said: “Taking the proceeds of crime off individuals such as these brothers is particularly significant for the Bradford community. Through this work we have sent a clear message that no one is above the law, while simultaneously taking away the ability of the pair to benefit from what we assessed as the proceeds of crime.
"This action demonstrates to the criminal fraternity that we will use every available tool to disrupt and help prevent money laundering by criminals and their associates.”
The settlement will include a three storey town house in Paddington, West London worth approximately £1.75 million and 2 properties in Yorkshire worth approximately £300,000.
The £4.3 million agreed figure is a gross figure and will need to take into account outstanding debt on properties forfeit.