£50,000 seized in connection with Royston money laundering probe
- Credit: Archant
More than £50,000 has been seized by police investigating a large-scale money laundering operation.
In July, officers from the East Herts Scorpion Team executed warrants at four addresses, as part of an ongoing investigation - one of the properties was in Scott Close, Royston.
The respondent at the address, a 29-year-old man, was arrested and has since had £50,077.57 seized by officers. At a hearing at Hatfield Magistrates' Court on Tuesday last week an application for continued detention of the seized cash was granted for a further six months.
The cash was seized under section 295 of the Proceeds of Crime Act 2002 with investigators having reasonable grounds for suspecting that it is recoverable property, that is property obtained through unlawful conduct intended for use in unlawful conduct.
The man has not been charged, and the investigation continues.