Assets Recovery Agency v Olupitan & Anor

Assets Recovery Agency v Olupitan & Anor

The court found, on a balance of probabilities, that Mr Olupitan obtained 157 Wellington Drive, 23 Hazelmere Road, and the funds in two bank accounts through unlawful conduct including mortgage fraud, conspiracy to defraud, and money laundering. The explanations for the sources of funds were rejected as untruthful. Ms Makinde did not act in good faith regarding 23 Hazelmere Road. The Director is entitled to a recovery order over the identified properties and accounts, except for 30 Wellstead Road, which was not proved to be obtained through unlawful conduct.

Parties
Claimant: Director of the Assets Recovery Agency; First Respondent: Ayodele Olusegun Olupitan; Second Respondent: Omatayo Abidemi Makinde
Jurisdiction
England and Wales
Judgment Date
08 February 2007
Procedural Posture
Civil Recovery Proceedings / Judgment After Contested Hearing
Outcome
recovery order granted in part
Legal Topics
Mortgage Fraud, Money Laundering, Conspiracy to Defraud, Unlawful Conduct, Mixed Property, Human Rights, Good Faith Acquisition
Proceeds of Crime Civil Recovery Property Law Mortgage Fraud Money Laundering Conspiracy to Defraud Unlawful Conduct Mixed Property +2 more

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Parties

Director of the Assets Recovery Agency

Claimant

Ayodele Olusegun Olupitan

First Respondent

Omatayo Abidemi Makinde

Second Respondent

Procedural Posture

Civil Recovery Proceedings / Judgment After Contested Hearing

Legal Issues

  1. 1 Whether the properties and bank accounts held by the respondents are recoverable property under Part 5 of the Proceeds of Crime Act 2002 as obtained through unlawful conduct
  2. 2 Whether the respondents acted in good faith or are protected by statutory or human rights exceptions
  3. 3 Whether the Director has proved on a balance of probabilities that the assets were obtained through unlawful conduct including mortgage fraud, conspiracy to defraud, and money laundering

Ratio Decidendi

The court found, on a balance of probabilities, that Mr Olupitan obtained 157 Wellington Drive, 23 Hazelmere Road, and the funds in two bank accounts through unlawful conduct including mortgage fraud, conspiracy to defraud, and money laundering. The explanations for the sources of funds were rejected as untruthful. Ms Makinde did not act in good faith regarding 23 Hazelmere Road. The Director is entitled to a recovery order over the identified properties and accounts, except for 30 Wellstead Road, which was not proved to be obtained through unlawful conduct.

Court Disposition

recovery order granted in part

Orders

  • Recovery order granted in favour of the Director over 157 Wellington Drive, 23 Hazelmere Road, and two Abbey National bank accounts in the name of Mr Olupitan.
  • On sale of 23 Hazelmere Road, Bristol & West to be repaid outstanding mortgage and balance to be recovered by the Director.