Prepayment of London penthouse rent draws attention to dubious of source funds

Feb.February 10, 2019 01:00 PM

(Credit: iStock)

A student who prepaid £390,000 ($500,000) of rent for a penthouse in London raised suspicion at the National Crime Agency (NCA) in the U.K., and now he faces a forfeiture order for profiting from his father’s crimes.

A London judge last week ordered the student, 22-year-old Vlad Luca Filat, to forfeit nearly £500,000 because NCA investigators believe the source of his money is illegal activity by his father, Vladimir Filat, the ex-prime minister of Moldova, a former Soviet republic.

Valdimir Filat has been imprisoned since his 2016 conviction for his role in the disappearance of $1 billion from three banks in Moldova. He is serving a nine-year sentence.

His son Vlad Luca has no registered income in the U.K., and bank records show that big deposits from overseas companies, mainly in Turkey and the Cayman Islands, funded his living expenses.

After he moved to London in July 2016, Vlad Luca spent heavily on such luxury goods as a £200,000 Bentley automobile.

By May 2018, however, U.K. authorities froze three bank accounts in his name. On Tuesday, a London judge ordered the forfeiture of nearly £500,000 from the frozen bank accounts. [Bloomberg]Mike Seemuth

Related Articles

The Vue at Brickell building and Gaston Tomaghelli

Feds freeze Miami condos tied to Argentinian drug trafficking and money laundering scheme

Joe Carollo and a Coconut Grove House

Busted: City doles out code violations to Miami commissioner’s Coconut Grove home

Dean Trantalis, Ken Valach, and a Alexan Tarpon River rendering

Condo association sues Fort Lauderdale after city rejects plans for downtown site

David Beckham, Jorge Mas and a rendering of the Overtown stadium

David Beckham, partners to close on county site in Overtown after all

President Trump and Mar-a-Lago (Credit: Getty Images)

Revenue fell at Trump’s Palm Beach properties in 2018

Govorner Ron DeSantis (Credit: Getty Images)

Florida governor signs business rent tax rollback, the third in recent years

Donald Trump and Trump Doral (Credit: Getty Images)

Trump Doral’s financial results falter due to Trump name: report

A Florida bill may allow for remote notarizations

Florida Legislature passes bill that could boost foreign investment in real estate