The Met has seized nearly £5 million from criminals this year, under new legislation which allows police to confiscate assets and cash from serious criminals.

The £3.5 million in cash and £1.2 million in assets makes up more than half the total assets recovered from UK criminals this year.

The Met, in a joint operation with Customs and Excise, are set to pour even more resources towards investigating the finances of convicted criminals and those who led "extravagant or suspicious lifestyles."

A Scotland Yard spokesman said "operation payback," a first for any UK police force, would recover cash and assets from some of London's most serious criminals.

Detectives from the Specialist Crime Directorate, and HM Customs and Excise, will use powers under the new Proceeds of Crime Act to tackle criminality through assets.

AC Tarique Ghaffur, MPS Director of Specialist Crime said: "It used to be that crime really did pay, but Operation Payback will put an end to that.

"There is nothing worse for a police officer than returning a large amount of money to a known criminal.

Some of these criminals had "great status" within London's communities, and had become role models for young people, Mr Ghaffur said.

Paul Evans, Chief Investigation Officer for Customs and Excise said: "Customs and police investigators and undercover teams are scouring London and the nation for criminal cash - the lifeblood of all crime.

"Over a million pounds a week was seized by Customs in just the first four weeks of new cash seizure powers becoming effective.

"We have seen criminals blatantly carrying around dirty cash, even in cardboard boxes or bin liners, to buy drugs that harm London communities."

Most of Operation Payback's work will be carried out by the Met's Financial Investigation Units and the new Confiscation Team and Money Laundering Investigation Team, parts of the Economic Crime Command (SCD6).

Some of the Command's successes include:

- In late April over £150,000 was seized from people smuggler Antonio Russo. The 49-year-old Russian was involved a major fake marriage and human smuggling scam.

He was convicted in Sept 2002 following an operation by Heathrow's Human Smuggling Unit. The unit had received information that British men were being given cash to marry Russian women in order for them to live in the country.

Following the confiscation hearing Russo was removed to Italy to complete a sentence for double murder and attempted murder. He had escaped from custody there in 1990.

- Fugitive James Fabregas was arrested in Spain in December in connection with a major investment fraud. The fraud revolved around offering opportunities to invest in a banking scheme which would yield a 40 per cent return. On April 2 the Met successfully applied for nearly £300,000 of his assets to be confiscated. Fabregas was sentenced to 3 years and nine months jail.

- In December 2002 the unit confiscated £1.1 million from Ronald Peeman, a convicted drugs dealer. Peeman, a Dutch national, was jailed for supplying 2 kg of cocaine in 1999.

All proceeds seized are handed to HM Treasury.

May 29, 2003 12:00