International Criminals Driving Up U.K. Home Prices, Times Says
2015-07-25 07:33:51.267 GMT
By Ambereen Choudhury
(Bloomberg) -- National Crime Agency says international
criminals are propping up British house prices by laundering
billions of pounds through the purchase of expensive properties,
The Times reports on Saturday.
* “I believe the London property market has been skewed by
laundered money,” Donald Toon, director of economic crime
at the agency tells the newspaper.
* Toon says he’s alarmed by the number of homes registered to
complicated offshore entities.
* Windfall of almost 150 million pounds ($233 million) for the
Treasury in 3 months from mansion tax on homes controlled by
companies, trusts and investment funds: Times
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To contact the reporter on this story:
Ambereen Choudhury in London at +44-20-3525-3862 or
achoudhury@bloomberg.net
To contact the editor responsible for this story:
Simone Meier at +44-20-3525-7738 or
smeier@bloomberg.net
2015-07-25 07:33:51.267 GMT
By Ambereen Choudhury
(Bloomberg) -- National Crime Agency says international
criminals are propping up British house prices by laundering
billions of pounds through the purchase of expensive properties,
The Times reports on Saturday.
* “I believe the London property market has been skewed by
laundered money,” Donald Toon, director of economic crime
at the agency tells the newspaper.
* Toon says he’s alarmed by the number of homes registered to
complicated offshore entities.
* Windfall of almost 150 million pounds ($233 million) for the
Treasury in 3 months from mansion tax on homes controlled by
companies, trusts and investment funds: Times
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Ambereen Choudhury in London at +44-20-3525-3862 or
achoudhury@bloomberg.net
To contact the editor responsible for this story:
Simone Meier at +44-20-3525-7738 or
smeier@bloomberg.net