Ex-banker forced to give up £1.5m London home

Ex-banker forced to give up £1.5m London home




A former banker has been ordered to hand over her Mayfair apartment to the National Crime Agency (NCA).

Elena Kotova, 61, from Russia, handed her £1.5m apartment in Upper Grosvenor Street over to the NCA after agreeing to settle a civil recovery claim last month.

The NCA submitted that the former executive director of a European bank had used her position to make substantial personal profit through bribery and corruption. 

The NCA alleged that between 2005 and 2011, Ms Kotova was engaged in soliciting corrupt payments from her clients in return for assistance in securing funding for their projects and laundering the proceeds of these bribes through an offshore company. 

The NCA claimed these funds were then used to fund the purchase of the Mayfair flat and on 23rd March Ms Kotova agreed to settle and hand over the apartment as well as money from two bank accounts totalling around £230,000.

Stephanie Jeavons, Deputy Director of the NCA’s Economic Crime Command said: “The NCA’s successful investigation against Ms Kotova demonstrates that the UK is not a safe place for anyone to hide the proceeds of their high end financial crime. 

“The NCA will use all its powers to remove the proceeds of any criminality – whether you reside in the UK or overseas.”

Meanwhile, Detective Constable Martin Hall of City of London Police added: “This order sends out a clear message to both national and international criminals that whatever your circumstances or status UK law enforcement will come after the possessions acquired and the money made through financial crime.”

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