Skip to content
Friday 24 July 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
City PM

European business, markets and politics

FTSE 100
10,677.35
+0.36%
DAX
24,955.12
+0.78%
CAC 40
8,334.25
+0.42%
STOXX 50
6,256.57
+0.75%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Wednesday 08 April 2020 1:03 pm  |  Updated:  Wednesday 08 April 2020 4:53 pm

NCA defeated in unexplained wealth order battle to seize three London homes worth £80m

By: James Booth

Add as a preferred source on Google
Sterling will lose recent gains against the dollar and weaken further if the UK does not ask for an extension of its Brexit transition period, according to a Reuters survey.
(Photo by Matt Cardy/Getty Images)

The National Crime Agency (NCA) has been defeated in a court battle to seize three London homes worth £80m from the family of a Kazakh government official.

The High Court today dismissed the NCA’s attempt to use unexplained wealth orders (UWO) to seize the homes in Hampstead, Highgate and Chelsea.

In her judgment Justice Lang said she was not satisfied that the NCA had proved that the homes were bought with dirty money.

The NCA said it disagreed with today’s decision and would appeal.

The NCA was trying to seize the houses, including one on the so-called billionaires row in Hampstead, from relatives of Kazakhstan’s former dictator Nursultan Nazarbayev.

Nurali Aliyev – who owned one of the houses – is the son of Rakhat Aliyev, who died in Austrian prison in 2015 awaiting trial for murder. He was head of Kazakhstan’s tax police, deputy chief of its security service and first vice foreign minister.

He amassed a fortune during his time in government and was formerly married to the daughter of Kazakhstan’s former dictator.

The NCA said that the three properties were bought with money unlawfully earned by Rakhat Aliyev, but the judge rejected their case.

Graeme Biggar, the NCA’s director general of the National Economic Crime Centre, said: “We disagree with this decision to discharge the UWOs and will be filing an appeal. These hearings will establish the case law on which future judgments will be based, so it is vital that we get this right.

“The NCA is tenacious. We have been very clear that we will use all the legislation at our disposal to pursue suspected illicit finance and we will continue to do so.”

Read more

We should all get behind this wealth tax

LONDON, ENGLAND - JUNE 01: A general view of a house along Kensington Palace Gardens, which has been named as Britain's most expensive street on June 1, 2011 in London, England. Many of the mansions are occupied by billionaire businessmen, embassies and ambassadorial residences. (Photo by Oli Scarff/Getty Images)

Nurali Aliyev said: “The court’s powerful judgment demonstrates the NCA obtained the orders on an inaccurate basis as part of a flawed investigation which was entirely without merit.

“The NCA deliberately ignored the relevant information I voluntarily provided and pursued a groundless and vicious legal action, including making shocking slurs against me, my family and my country.

“This resulted in us having to battle to keep our children’s names private. Today we have been vindicated and as a family we now respectfully ask for privacy.”

A spokesperson for Dariga Nazarbayeva – Nurali Aliyev’s mother – said: “While Dr Nazarbayeva is pleased with the court’s decision, the NCA’s flawed investigation has been intrusive on her private and family life, and she requests that their privacy is respected.”

Duncan Hames, director of policy at Transparency International UK, said: “This case has highlighted major weaknesses in the UK’s defences against dirty money that should be addressed urgently. Secretive corporate ownership continues to be a pervasive issue across the UK with tens of thousands of properties owned by opaque offshore vehicles.”

And added: “The government should require transparency over who really owns secretive offshore companies holding UK property, making it easier to identify property bought with suspicious wealth and giving the corrupt no place to hide.”

UWO’s were introduced in the UK in 2018 to help the battle against corruption. They have the effect of making owners of properties and other assets prove that they acquired them lawfully at the risk of confiscation.

In February, a woman who spent £16m at Harrods in a decade lost a legal challenge against the UK’s first UWO.

Zamira Hajiyeva, the wife of Azerbijani banker Jahangir Hajiyev, had been attempting to overturn a UWO obtained by the National Crime Agency in 2018 against a property in Knightsbridge.

Read more

From Mongolian camels to Tibetan verbs: the absurdity Ed Miliband’s aid spending plans

Ed Miliband speaking at a podium during a press conference, addressing energy policy reforms and climate change initiatives.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business

Related Topics

  • London business

Trending Articles

  • BT braces for loss of 800,000 customers as it banks on fibre to keep turnaround ‘on track’

  • Regulator flags BDO’s ‘unacceptable’ audit issues for fifth year in a row 

  • Tax rises ‘guaranteed’ as Healey faces £22bn black hole from Burnham spending plans

  • ‘We are going to run out’: Mitie marks eleventh mega takeover of 2026

  • Scotch whisky sales are falling, but what’s really behind the decline?

More from City PM

  • We should all get behind this wealth tax

    Opinion
    LONDON, ENGLAND - JUNE 01: A general view of a house along Kensington Palace Gardens, which has been named as Britain's most expensive street on June 1, 2011 in London, England. Many of the mansions are occupied by billionaire businessmen, embassies and ambassadorial residences. (Photo by Oli Scarff/Getty Images)
  • From Mongolian camels to Tibetan verbs: the absurdity Ed Miliband’s aid spending plans

    Opinion
    Ed Miliband speaking at a podium during a press conference, addressing energy policy reforms and climate change initiatives.
  • Prince Harry defeated in phone hacking legal battle against Daily Mail publisher

    Lawsuit
    Prince Harry, Duke of Sussex (Photo by Yui Mok - WPA Pool/Getty Images)
  • Burnham opens door to wealth tax

    Tax
    Andy Burnham engaged in discussion with Goalhanger, highlighting key insights and perspectives in a dynamic news setting.
  • Schroders sells financial planning arm as it accelerates high net-worth shift

    Investing
    Schroders office building exterior with modern architecture and company logo prominently displayed in a business district ...
  • Why the wealthy aren’t tired of London after all

    Opinion
    Black cab navigating Bond Street in Mayfair, showcasing Londons iconic taxi service against a backdrop of luxury shops.
  • Andy Burnham should show London he cares by funding this one transport project

    Opinion
    Andy Burnham, Mayor of Greater Manchester, standing outside 10 Downing Street in a suit and tie.
  • Lufthansa and aviation rivals clash in London court over power outlet profits

    Legal
    Lufthansa aircraft on tarmac with logo visible, showcasing airlines fleet under clear sky in a business news context
CityPM

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About City PM
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 City PM Ltd · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook