AC-2025-LON-002199 - [2025] EWHC 2057 (Admin)

Asset 1 was purchased for £476,000 on 5th September 2014 without a mortgage. The Respondents made 16 payments totalling £491,632.48 to the conveyancing solicitors, Horizon Law, between June and September 2014. In the months prior to purchase, 21 large payments from various third parties totalling £498,583.03 were received into their accounts. A large part of these funds was then transferred between their accounts before being paid to the solicitors. These payments included references to 14 individuals other than the Respondents, with Mr Xing’s mother being one identified individual. Additionally, between May and July 2014, 34 cash deposits totalling £42,009.90 were made at various branches across the UK. The funds for Asset 1 are likely a combination of transfers in and cash deposits, not commensurate with declared income, and appear to have been deliberately structured to avoid detection.