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Serious Fraud Office seizes haul of Rolex watches during hunt for proceeds from $63.8m fraud

Rolex-and-jewellery

The UK Serious Fraud Office (SFO) has confiscated watches and jewellery worth $637,622 (£500,000) from a safe deposit box owned by the brother of a convicted fraudster in Birmingham.

Saghir Afzal is serving time for a $63.8m (£50m) pound mortgage scam but his brother is still a fugitive.

SFO officials have been trying to find assets of Mr Afzal and his associates, and the search led them to a safe deposit box of his brother, where they found valuable necklaces, gold, silver and diamond-encrusted Rolex watches worth half a million pounds.

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“This case reinforces our determination to use every tool available to us to prevent those who would bribe, cheat and steal from resting easily on their illicit gains,” said Liz Baker, head of the SFO’s proceeds of crime and international assistance division.

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Tags : Rolex
Alex Douglas

The author Alex Douglas