Unknown Wealthrs: Suspected money launderer seizes assets of 10m

Nearly 10 10 million has been handed over in a major victory against some of the most dangerous criminals in the north of England.

The apartments and houses were given to the National Crime Agency by a Leeds businessman, who investigators suspect is a money launderer.

The NCA says Mansoor Mahmood Hussein was working for gangsters, including a murderer and a drug trafficker.

The agency believes he laundered his profits through the property empire.

For two decades, Mr. Hussein, known as Money, developed his portfolio in West Yorkshire, Cheshire and London while presenting himself as a legitimate businessman.

In his social media accounts he lives a luxurious lifestyle in which celebrities took part in high performance cars, executive jets, super-yachts and VIP events.

While the 0-year-old has never been convicted of a crime, investigators say they had intelligence that he was linked to a serious gangster – but could not find the detailed evidence needed for the money laundering allegations.

Instead, in 2019, they turned to a relatively new power of a carefree wealth order that required the businessman to open his books and show how his wealth came from legitimate sources.

The NCAA has now announced that Mr Hussein has stopped fighting the case against him and has agreed to a settlement in which he has handed over most of his empire – apart 45 apartments, office fees and houses.

As part of the settlement, the NCAA left them four small assets that are still mortgaged, and cash in a bank account, which was not part of the original investigation.

Graeme Bigger, the NCA’s head of economic crime, said: “This case is a landmark, showing the power of the neglected wealthrs, with significant suggestions on how to proceed with illegal financial action in the UK.

“Investigations into the sabotage have turned up millions of pounds of criminal assets.

“It is crucial for the economic health of local communities like Leeds and for the country as a whole that we ensure that property and other assets are legally held.”

The largest single property assigned to the NCA is a high-spec apartment apartment and office fee development within the limits of Leeds, Quebec, which Mr. Hussein fully owns in one of his companies.

Other properties include a house on one of the city’s most expensive streets, an apartment opposite Herod’s in London and a terraced residence in Leeds and Bradford.

In the High Court’s legal papers, the NCAA said it believed the seed money and other property purchases for the development of Quebec should have come from Mr. Hussein’s criminal associates because they could not find any legitimate source for his assets. He had paid virtually no income tax in several years and many of his 77 companies were inactive.

The court was told that Mr Hussein was considered “clean skin” – an unscrupulous businessman working as a moneylender.

One of the developer’s closest associates was Bradford gangster Mohammad Nisar Khan, known as “Maggie” on the street, the NCAA said today.

He was sentenced to life in prison last year for murder – and investigators have identified him as one of the most important organized crime bosses in the long-running drug and firearms trafficking case in the north of England.

Ms Hussein had been close to Mohammad Khan since 2005 and had frequently visited him in and out of court, according to evidence gathered by investigators.

He also paid a 134,000 confiscation order for Khan’s brother, Shamsher, who was separately convicted of money laundering.

The NCAA also said Dennis Slade, who once led an armed robbery gang, lived rent-free in Mr Hussein’s seven-bedroom Leeds home.

The most unusual result of the investigation comes after doubts over the future of the UWO powers – including compromise by leaving targets with some assets.

Two of the four cases started after the order was made are being fought by the courts, while the NCA lost a third after the High Court ruled, while there was no case to answer for targeting individuals.

The NCAA today defended the settlement decision in the Hussein case, saying that Manny Hussein had nothing left but heavily mortgaged assets – and saved him money and money by discouraging the taxpayer from starting a potentially long and costly legal battle. Investigators say the settlement does not guarantee Mr Hussein will be re-examined in the future.

Duncan Hems of Transparency International, an anti-corruption and white-collar crime campaign group advocating for the UWO, welcomes the outcome of the case.

“The important thing is that there is a high level of transparency here so that people can see justice done.” Mr. Hems said. “Given the challenges to the court system, we need to be thankful when cases are brought to a conclusion – but we need to look at a lot of them.”

The BBC has tried to contact Mr Hussein for comment.