SFO to review forfeiture in £ 740million mortgage fraud case

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Law360, London (September 8, 2021, 5:12 p.m. BST) – The man who orchestrated Britain’s biggest mortgage fraud on record worth £ 740 million ($ 1 billion) will be the target of ‘a new confiscation procedure by the Serious Fraud Office in January, the agency confirmed during a hearing on Wednesday.

The SFO is seeking to increase its £ 3.25million confiscation order imposed on Achilleas Kallakis in 2013 by £ 92,500 using section 22 of the Proceeds of Crime Act 2002. This allows prosecutors to ask the court to reconsider the available amount of a forfeiture order. The news came during a case management hearing at Southwark Crown Court.

The article applies in cases where there is a disparity between …

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