SFO To Revisit Confiscation In £740M Mortgage Fraud Case
By Richard Crump (September 8, 2021, 5:12 PM BST) -- The man who orchestrated Britain's biggest ever mortgage fraud worth £740 million ($1 billion) will face renewed confiscation proceedings by the Serious Fraud Office in January, the agency confirmed at a hearing Wednesday.
The SFO is seeking to increase its £3.25 million 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 confiscation order. The news came at a case management hearing at Southwark Crown Court.
The section applies in instances when there is a disparity between the...
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