Latest news with #ProceedsOfCrimeAct
BBC News
2 days ago
- Business
- BBC News
Police seize £180k of Andrew Tate's Aston Martin supercar deposit
A total of £180,000 has been seized by Devon and Cornwall Police from Andrew Tate over a deposit he placed on an Aston Martin Magistrates' Court heard on Thursday the controversial British-American influencer paid the deposit for a special-edition Valhalla vehicle in 2021. The cash came from tax evasion and money laundering, the force said, which obtained account freezing and forfeiture orders under the Proceeds of Crime Act. Tate and his brother Tristan did not oppose the sum can be added to the £2.7m of funds seized from the brothers by the force in December 2024 after the same court ruled they failed to pay tax on £21m of revenue from online businesses. Some of the revenue in that case was directly linked by detectives to allegations of human trafficking that the brothers face in Romania. Sarah Clarke KC, on behalf of Devon and Cornwall Police, told the judge on Thursday that the funds used to pay the supercar deposit were the proceeds of tax and VAT evasion and money said funds deposited with Aston Martin originally came from a Coinbase cryptocurrency account, which had held multiple cryptocurrencies purchased with funds derived from the Tate brothers' business tax or VAT had been paid on the funds, she added. Det Supt Jon Bancroft, of Devon and Cornwall Police, said: "This latest judgement follows on from our applications made against the Tate brothers which resulted in a successful ruling in December 2024 and the forfeiture of nearly £2.7m of criminal funds."From the outset we aimed to demonstrate that Andrew and Tristan Tate evaded their tax obligations and laundered money. We succeeded in doing exactly that and we have succeeded again this week."People in Devon and Cornwall will benefit from the money seized and it will be reinvested to help prevent crime, aid victims and vulnerable people, and to boost good causes."He added the outcome showed how the police would continue to "relentlessly pursue all criminal funds without fear or favour".
Yahoo
10-06-2025
- Yahoo
Criminal money funds Cornish boat revamp
Donated criminal money from the police has allowed a rowing club in Cornwall to invest in its boat. The neighbourhood police team in St Ives gave £500 to the St Ives Pilot Gig Club to fund new seating in the club's 32ft (9.7m) racing boat named Fortitude. The Proceeds of Crime Act fund supports groups, projects and charities with money seized from criminality. Pete Preston, Chairman of the St Ives Pilot Gig Club, said the club was "extremely grateful". He said: "As a small club with a big heart, we are open to all our local community. "The funding of this much-needed equipment enables us to redirect our limited club funds towards ongoing required maintenance of our gigs, helping to ensure the future of the club in the town." Terry Webb, Police Community Support Officer, said he was happy the money was "able to make a difference". He said: "It's fantastic that we can use money earned through criminal activity for good, putting the money back into our community to support local people. "This club has been at the heart of the community for 35 years, welcoming hundreds of people onboard to keep fit and learn new skills out on the sea." The newly renovated boat was able to race during the annual World Pilot Gig Championships on the Isles of Scilly in May. More news stories for Cornwall Listen to the latest news for Cornwall Follow BBC Cornwall on X, Facebook and Instagram. Send your story ideas to spotlight@ Rowers head to Scilly for World Gig Championships Cornwall rowers finish Atlantic race in 40 days Police use criminal funds to educate students Devon & Cornwall Police
