UK police claw back £1 million from deceased money laundering suspect
The Avon and Somerset Police in the UK disclosed that it had completed a forfeiture that clawed back more than £1 million in cash, Bitcoin and other digital assets from a dead, convicted money launderer.
The single largest crypto seizure on record, per the Financial Investigation Unit in its August 27 statement, lands amid a UK-wide push to tackle criminal elements exploiting blockchain technology to conceal and move digital wealth through shadow routes.
UK police reclaim crypto from dead defendant
A UK court authorized Avon and Somerset Police to seize a total of £1,032,487.86 under the Proceeds of Crime Act (POCA) filed earlier in the year. Altogether, the seized assets came up at 20.21 BTC, other crypto assets, and cash in a bank account.
The police claimed that they proceeded to seize the assets because they were determined to be “proceeds of unlawful conduct” after the subject of the investigation’s money laundering conviction.
The police did not name the defendant, who is now deceased. However, they linked the tokens to darknet marketplaces that operated between 2016 and 2019 using what they described as specialist tracing methods, per Bristol Live.
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