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Following information from a Spanish law enforcement agency, the Royal Gibraltar Police have initiated a criminal investigation against Clint Serra and his family, suspected of laundering £2 million.
The Royal Gibraltar Police have confiscated approximately £2 million worth of assets from a local family due to an investigation into money laundering. On June 30th, a Supreme Court ruling was handed down on a civil case by the Attorney General, using the power of the Proceeds of Crime Act (POCA), involving Serra family members, which led to the seizure.
In a report from a Spanish law enforcement agency, the RGP initiated an investigation into criminal money laundering against local man, Clint Serra, in 2020. This investigation led to the identification of several Gibraltar assets under the ownership of close family members of Serra.
The Money Laundering Investigation Unit of the RGP investigated the acquisition of these assets, and the proceeds of crime related to drug trafficking were suspected of having been used in their acquisition. The POCA permits a seizure or confiscation of such assets in such circumstances.
June 30th also saw the ChiefJustice ruled that the crown would seize three parcels of real estate in Watergardens with accumulated rental payments, one property in Catalan Bay, and a taxi licence. The fund is intended to provide assistance to law enforcement agencies in their efforts to curb economic crime in totality. As a result of the loss to the family, there is an effort to combat economic crime.
A spokesperson for RGP stated that the civil powers contained in POCA would be used to remove all assets acquired by suspected criminals regardless of whether any criminal charges could be brought. Further, it was not important whether the assets were in the name or not of the suspected criminal since this did not prevent the RGP from conducting an investigation.