The South London property developer agrees to surrender £ 2million in assets to settle claims of fraud, tax evasion, money laundering and cannabis cultivation
London-based real estate developer Richard Leahy has agreed to hand over nearly £ 2m worth of assets to settle a civil recovery claim for alleged involvement in cannabis cultivation, money laundering and fraud.
The contract covers three London properties and comprises £ 1,125,340 in cash in a bank account.
In the NCA’s case, the property came from the criminal conduct of Richard Leahy, 56, a developer and landlord from Orpington, Kent. The NCA alleged that Mr. Leahy had been involved in criminal activities including cannabis cultivation, mortgage fraud, benefit fraud, money laundering and tax evasion for more than 15 years.
The civil recovery order was made amicable by the High Court in London on June 23, following a settlement agreement between the NCA, Mr Leahy and twelve other defendants owned or related to Mr Leahy.
In 2017, the NCA obtained an order from the High Court to freeze real estate over residential and commercial property in south London and Kent owned by Mr Leahy or his businesses. In November 2018, a civil law recovery application was made. In April 2020, Mr Leahy filed for the property freeze to be lifted, but his application was dismissed by a Supreme Court judge.
Andy Lewis, director of civil recovery at the NCA, said: “This is a great result as it reclaims nearly £ 2 million that will go back into the public purse and used to fight criminal activity. Comparisons in civil matters offer taxpayers good value, often avoid lengthy and costly legal disputes and relieve our investigators and our legal team for other cases. “