London Student Must Forfeit Nearly £500k After £390k Penthouse Rent Shock
A London uni student who splashed out £390,000 up front to rent a swanky Knightsbridge penthouse now faces handing over almost half a million pounds. The UK’s National Crime Agency (NCA) swooped after suspecting the cash ties to crime.
HSBC Accounts Frozen Over Dirty Money Links
Back in May 2018, freezing orders were slapped on three HSBC accounts belonging to 22-year-old Vlad Luca Filat. The NCA’s probe used new powers under the Criminal Finances Act 2017. They believe the funds came from Vlad’s dad, Vladimir Filat – the ex-Prime Minister of Moldova who’s locked up for nine years.
Vladimir Filat was convicted in 2016 for his role in a massive scandal where $1bn (£646m) disappeared from three Moldovan banks. That colossal sum was nearly a tenth of Moldova’s entire economy.
Cash Flow Raises Eyebrows
- No UK income on record for Vlad Luca.
- HSBC showed his accounts had big deposits from overseas firms, mainly in Turkey and the Cayman Islands.
- He also churned through nearly £100,000 in cash deposits over just three days in the UK.
Since moving to London in July 2016 to study, Vlad lived the high life. He splurged on luxury goods including a £200,000 Bentley Bentayga from a Mayfair dealership.
Judge Orders Massive Forfeiture
At City of London Magistrates Court, District Judge Michael Snow ordered £466,321.72 to be forfeited from Vlad’s frozen accounts. He declared: “I am satisfied on the balance of probabilities that the cash was derived from his father’s criminal conduct in Moldova.” The NCA also recovered £4,079 in legal costs.
Rob MacArthur from the NCA’s International Corruption Unit said: “Account Freezing Orders are a valuable tool in the fight against illicit finance in the UK. Where we suspect money in an account is the proceeds of crime, we can apply to the court to freeze and then forfeit the sums. In this case, Vlad Luca Filat was unable to demonstrate a legitimate source for the money and the court determined it to be recoverable.”
