Cops find £1 MILLION in notes in a suitcase in the back of a London black cab
The black cab was pulled over in east London and cops discovered an astounding £943,000 in notes in the passenger compartment
ALMOST £1 million in cash was found by police in a suitcase when they stopped a London cabbie.
The black cab was pulled over in east London and cops discovered an astounding £943,000 in notes in the passenger compartment.
It was the largest single value cash seizure in 2015/16, in a year where more than £73 million was seized by the Metropolitan Police under the Proceeds of Crime Act 2002.
Cops believe the money was being moved around the city by a network of criminals.
Over the same period the largest confiscation order made was for £6,328,119 in May 2015 over the supply of chip and pin machines to central London brothels.
A number of sham companies were created offering events and function facilities to corporate clients.
These companies were then used to get hold of multiple chip and pin machines by fraudulently misrepresenting their business intentions.
The machines were placed in several brothels to process payments for sexual services and Class A drugs from paying customers.
The cash seized was forfeited by the crooks under the Proceeds of Crime Act in early 2016.
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Funds confiscated by the Met are paid to the Home Office, although the force receives a percentage back through the Asset Recovery Incentivisation Scheme.
Commissioner Sir Bernard Hogan-Howe said: "The MPS is here to reduce crime and keep people safe. It's satisfying to see criminals pay back for the damage they cause communities through the assets we've recovered.
"The message is loud and clear, crime does not pay and criminals who think it does will have to deal with the full force of the MPS."
During Sir Bernard Hogan-Howe's term as commissioner since September 2011, the Met has seized or confiscated £317.14 million through the Proceeds of Crime Act 2002 and has received £40.16 million through ARIS.
In 2015/16, the Met Police received £8.89 million through ARIS, which is used to fund financial investigations, training and specialist units in targeting organised criminal gangs and violence.
During the previous year, £73.04 million was seized from crooks across London.
The Proceeds of Crime Act 2002 gives police the powers to identify and remove assets obtained from a criminal lifestyle.
Using the act, police can investigate the financial affairs of a suspect to see if any of their assets were obtained through criminal means and a court can then order the criminals to pay up.
Earlier this year Spanish cops smashed a massive arms trading ring that had been linked to a number of terror attacks in Europe.
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