U.K. Recovers $498,000 From Criminal’s Dubai Home Sale - Bloomberg

U.K. Recovers $498,000 From Criminal’s Dubai Home Sale - Bloomberg:



"U.K. authorities recovered more than 300,000 pounds ($498,000) from the sale of a convicted drug trafficker’s home in Dubai in the first such confiscation involving the United Arab Emirates. 




The apartment in Dubai Marina was owned by Redwan El-Ghaidouni, 37, who was convicted at Kingston Crown Court in March 2011 on drug charges, the Crown Prosecution service said in a statement on its website.



A confiscation order in 2012 for about 417,000 pounds, was fully satisfied by the sale and the money was transferred to the British public purse under an asset-sharing agreement with the U.A.E., according to the CPS statement."



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