LNB News 17/01/2025
Document Information
Issue Date: 17 January 2025
Published Date: 17 January 2025
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Serious Fraud Office (SFO) has successfully obtained its inaugural Unexplained Wealth Order (UWO) at the High Court, targeting a £1.5m Lake District property owned by Claire Schools, ex-wife of convicted solicitor Timothy Schools. The property is suspected to have been purchased with proceeds from a £100m fraud. The SFO has frozen the asset and has ordered Claire Schools to provide information on its acquisition within 28 days. This landmark case follows a recent £1m confiscation from Timothy Schools and marks the SFO's first use of the UWO tool since its introduction in 2017, making it the second UK law enforcement agency to employ this investigative measure.
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