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Chambers HNW 2026: Lawrence Stephens Secures Strong Residential Real Estate Team and Individual Rankings

Posted on: July 23rd, 2026 by Ella Darnell

We are delighted to announce that Goli-Michelle Banan, Head of Residential Real Estate at Lawrence Stephens, has once again been recognised in the latest Chambers High Net Worth 2026 guide, maintaining her Band 3 ranking. In addition to this, the wider Residential Real Estate team has maintained its Band 4 ranking in the guide.

Maintaining both individual and team rankings is a significant achievement, particularly in a turbulent market. These rankings demonstrate the team’s continued strength and reputation within the Real Estate sector. The recognition places us alongside some of London’s most established and highly regarded firms, including Edwin Coe LLP and Rusell-Cooke.

We are also pleased that Senior Associate Aaron Rajan has been recognised as an Associate to Watch in this year’s guide, reflecting both the exceptional calibre of his work and the reputation he has established in the prime central London market.

With more than a decade’s experience in the prime and core London residential market, Goli-Michelle is a trusted adviser to HNW and UHNW individuals, developers, investors, and trust administrators across the UK and internationally. Known for her commercial insight, responsiveness and meticulous attention to detail, she is also recognised in Spear’s 500 as one of the UK’s top recommended property lawyers.

This year’s Chambers HNW guide includes glowing endorsements from clients and peers, who describe her as:

  • “A breath of fresh air. She knows her subject matter incredibly well, but can translate this to those with far less legal expertise to ensure that matters are understood and the client feels well advised.”
  • “Very knowledgeable and knows what she’s doing. She’s taken on much more of a leadership role but historically she was always down to get with the details – the nitty-gritty.”

  • “Excellent… she’s protective of us but pragmatic in getting solutions.”

Our Residential Real Estate team act as a one-stop shop for real estate transactions advising on a wide range of complex and high-value transactions, including property sales and acquisitions, leasehold enfranchisement, development site purchases, and refinancing. Clients range from private investors and family offices to corporates and developers, all of whom value our commercial, solution-driven approach and high-quality service.

The team’s ranking is underpinned by excellent client feedback, including:

  • “The individuals at Lawrence Stephens are experts in their respective fields and they have a very consultative approach to ensure that a subject matter expert is involved to get deals done smoothly.”

  • “They take genuine ownership of each matter, acting as true partners in the transaction and providing a level of personal attention, commitment and reliability that…makes them a standout practice within the industry.”

  • “Lawrence Stephens prioritised understanding client needs, resulting in tailored solutions that truly resonate. This commitment to client satisfaction builds long-lasting relationships and fosters loyalty.”

Aaron Rajan’s recognition as an Associate to Watch shows the depth of talent within the team and reflects his growing profile in the market. His clients have said:

“What truly distinguishes Aaron is his commercial awareness and forward‑looking mindset… His blend of legal excellence, commercial maturity and proactive client care makes him an invaluable adviser and one of the standout performers in the industry.”

We’re proud that Chambers HNW 2026 has acknowledged the expertise that defines our real estate offering. Congratulations to Goli-Michelle, Aaron Rajan and the entire Residential Real Estate team on this well-earned recognition and continued growth within the HNW space.

You can read more about our Residential Real Estate offering here: Residential Real Estate – Lawrence Stephens

Leigh Sayliss Comments on Legislation Day 2026 Tax Reforms in LexisNexis

Posted on: July 20th, 2026 by Ella Darnell

Partner and Head of Tax Leigh Sayliss has been featured by LexisNexis, one of the UK’s leading legal, tax and regulatory information providers, for his expert commentary on the tax measures announced as part of Legislation Day 2026.

Leigh’s insights were included in a LexisNexis analysis of the draft provisions for the Finance Bill 2027, providing readers with practical guidance on key developments, including the proposed introduction of Securities Transfer Tax and wider tax reform measures.

The inclusion of Leigh’s commentary reflects his recognised expertise in corporate tax and his contribution to discussions on significant legislative and regulatory developments affecting businesses and advisers.

You can find the analysis on the LexisNexis website here, please note access may be subject to subscription.

If you’d like to get in touch with Leigh to speak about his thoughts on the upcoming bill, you can get in touch here.

Lawrence Stephens Advises STB Real Estate Finance on £36.4 Million Build-to-Rent Financing for Livingway

Posted on: July 14th, 2026 by Ella Darnell

Lawrence Stephens is pleased to have advised Secure Trust Bank (STB) Real Estate Finance on the provision of £36.4 million in funding to Livingway, the build-to-rent (BTR) investor and operator, supporting three residential assets across its growing portfolio.

The three-year facility has been structured to support three build-to-rent schemes, including ROCO, a flagship residential development located on James Street in the heart of Liverpool city centre. The scheme offers fully furnished apartments alongside a range of resident amenities, including co-working spaces, wellness facilities and communal lounges.

The transaction marks the beginning of a new relationship between STB Real Estate Finance and Livingway, reflecting STB’s relationship-led approach to lending and the continued strength of the UK build-to-rent market.

The Lawrence Stephens team advised STB Real Estate Finance on all legal aspects of the financing, working closely with the lender to deliver a bespoke funding structure that supports Livingway’s growth plans across its residential portfolio.

Mike Feasey, relationship director at STB Real Estate Finance, commented:

“It was clear that flexibility and collaboration would be key to delivering the right outcome, so we worked closely with Lawrence Stephens and the client to structure facilities that supported its objectives while reflecting the strength of the underlying assets and business model. This is a great example of the relationship-led approach we pride ourselves on at STB, and we look forward to supporting Livingway as the portfolio continues to grow.”

Ajoy Bose-Mallick, Partner and Head of Banking at Lawrence Stephens, commented:

“We were delighted to advise STB Real Estate Finance on this significant transaction. The build-to-rent sector continues to attract strong investor interest, driven by increasing demand for high-quality rental accommodation and professionally managed residential communities. This deal demonstrates the value of bespoke financing structures in supporting experienced operators as they continue to expand their portfolios.”

The Lawrence Stephens team was led by Ajoy Bose-Mallick, Partner and Head of Banking, with support from Ann Ebberson, Head of Real Estate Finance, Lucy Barnett, Senior Associate in Banking, and Alex Ruder, Solicitor in the Banking team.

Congratulations to STB Real Estate Finance and Livingway on the successful completion of the transaction.

You can read more about our Banking team here and our Real Estate Finance team here.

Lawrence Stephens Sports and Entertainment Team Shortlisted for Best Legal Team at the Global Football Industry Awards 2026

Posted on: July 8th, 2026 by Ella Darnell

Lawrence Stephens Sports and Entertainment team has been shortlisted for the Best Legal Team category at the Global Football Industry Awards. 

These awards recognise excellence off the pitch, whether through marketing, sustainability, sponsorship, grassroots development, diversity and inclusion, or investment in the sport. Nominations for these awards were made by professionals across the football industry, recognising the outstanding work and strong relationships that our team is known for. 

The Global Football Industry Awards are returning for their second year on 5 November 2026 and will be hosted by global football icons Peter Crouch and Jamie Carragher. 

Founded by football players and industry leaders, the Global Football Industry Awards exist to recognise the often-overlooked heroes driving the game’s success behind the scenes. From grassroots initiatives to corporate partnerships, this event shines a well-deserved spotlight on the international business leaders, brands, and innovators who make football’s global impact possible. Judged by a panel of experts from across the game, the awards acknowledge those whose vision, dedication, and leadership are shaping the future of the sport, and we are delighted to be recognised here. 

You can read more about the work that our Sports and Entertainment team have been up to here. 

Lawrence Stephens Makes Bumper Promotion Round

Posted on: July 1st, 2026 by Ella Darnell

 Lawrence Stephens is delighted to announce the promotion of nine colleagues to Senior Associate, and a further six colleagues to Associate, effective from 1 July 2026. These promotions are from across the firm and reflect the contribution made by them in the delivery of our services to our clients and the wider firm.

 Aaron Rajan becomes a Senior Associate in the Residential Real Estate team. Aaron is focused on the prime Central London residential real estate market and has developed great experience in dealing with tight timelines and complex ownership/purchase structures.

Annabel Andreou becomes a Senior Associate in the Family team. Annabel specialises in advising and assisting individuals in connection with separation, divorce, parenting agreements, child arrangements, and domestic abuse injunctions.

Bola Kim becomes a Senior Associate in the Real Estate Finance team. Bola focuses on working with regulated and unregulated banks for property refinances, bridging loans and secured lending.

Charlotte Hamilton becomes a Senior Associate in the Corporate and Commercial team. Charlotte trained at the firm and qualified into the Corporate and Commercial team. She has been instrumental in developing our Flourish bundled legal services product aimed at early-stage businesses.

Joseph Furze becomes a Senior Associate in the Private Wealth and Succession Planning team. Joe previously practised as a Barrister and Solicitor of the High Court of New Zealand before moving to the UK. He advises high net worth clients with their succession planning and their internal restructurings, including advising clients in relation to trusts, tax, Wills and Powers of Attorney.

Lefteris Kallou becomes a Senior Associate in the Dispute Resolution team. Lefteris specialises in insolvency matters and resolving complex and high-value disputes relating to breach of contract, shareholder and boardroom, debt and professional negligence claims.

Louisa Hartley becomes a Senior Associate in the Commercial Real Estate team. Louisa joined Lawrence Stephens with the team from Memery Crystal in early 2025, she advises on landlord and tenant matters, acquisitions and disposals, development projects and corporate real estate.

Lucy-Jane Barnett becomes a Senior Associate in the Banking team. Lucy focuses on secured lending transactions, including investment and development finance matters, from deal originations to refinancing and loan/property management assistance.

Miran Sharif becomes a Senior Associate in the Real Estate Finance team. Miran focuses on advising bridging lenders and borrowers ranging from first-time buyers to high net-worth individuals and property developers.

 

Becci Collins becomes an Associate in the Employment team. Becci represents businesses and individuals on contentious and non-contentious matters spanning the breadth of employment law.

Bethany Jacobs becomes an Associate in the Real Estate Disputes and Secured Recoveries team. Bethany trained and qualified at the firm, she advises on a wide range of residential property possession claims and commercial forfeiture, debt recovery claims, 1954 Act Lease renewals, secured lending recovery and enforcement work.

Carla Galkoff becomes an Associate in the Corporate & Commercial team. Carla trained and qualified at the firm and advises on a range of matters, including share and asset sales, mergers & acquisitions and company restructuring.

Isabella Tamlyn becomes an Associate in the Private Wealth & Succession Planning team. Isabella trained and qualified at the firm. She advises high net worth clients with their succession planning and their internal restructurings, including advising clients in relation to trusts, wills and Powers of Attorney.

Mithushan Sivagurunathar becomes an Associate in the Banking team. Mithushan acts for overseas and domestic banks, bridging lenders, alternative lenders and non-bank lenders in respect of secured lending transactions.

Mohammad Hammoud becomes an Associate in the Commercial Real Estate team. Mo joined Lawrence Stephens with the team from Memery Crystal in early 2025, his focus is on landlord and tenant matters and commercial property acquisitions and disposals.

Steven Bernstein, Chief Executive Officer at Lawrence Stephens, commented: “Nothing gives me greater pleasure than seeing my legal colleagues recognised for their dedication, expertise, and contribution to our clients and the firm. Equally pleasing is to see these promotions happening across the firm, and not just from one or two teams which indicates how the firm is managing to grow across the board in what have been globally challenging times.”     

Lawrence Stephens Strengthens Employment Team with Senior Associate Robert Turner

Posted on: June 30th, 2026 by Ella Darnell

We’re pleased to welcome Robert Turner to the firm as a Senior Associate in our Employment team.

Robert advises businesses, senior stakeholders and HR teams across the full range of employment law matters. His work covers day-to-day HR advice, Employment Tribunal litigation and complex claims such as discrimination and whistleblowing, as well as restructurings, redundancies and senior exits.

He also provides employment law support on corporate transactions, offering practical insight on organisational change and people-related risk.

Robert is known for giving clear, practical advice and takes a commercial approach to the challenges his clients face. With experience both in private practice and in-house, he works closely with decision-makers on sensitive and business-critical people issues.

Alongside his client work, he regularly delivers training and webinars on employment law developments and supports businesses with internal investigations.

Andrew Conway, Head of Employment added:

“Robert is a fantastic addition to the team. He brings a strong mix of advisory and contentious experience, which adds real depth to our employment offering. Just as importantly, he will be working closely with colleagues across the firm, particularly in the Corporate and Commercial team, to help our clients manage growth and change in a way that’s both commercially sound and people-focused.”

You can find out more about our Employment team’s offering here.

Lawrence Stephens Supports Howden on Launch of Web3 Risk Ecosystem

Posted on: June 11th, 2026 by Ella Darnell

Howden, the global insurance intermediary group, has announced the launch of a comprehensive Web3 risk ecosystem, evolving its digital asset offering to provide end-to-end support across the full risk lifecycle.

The launch builds on Howden’s earlier collaboration with Lawrence Stephens on its crypto theft insurance and recovery solution, first introduced in 2025, and reflects growing client demand for integrated support spanning prevention, operational resilience, incident response and asset recovery.

The enhanced ecosystem brings together a curated network of specialist providers across key areas of the digital asset landscape, including security infrastructure, forensic investigation, restructuring, asset tracing and legal advisory. Lawrence Stephens forms part of this panel, working alongside leading global vendors to deliver coordinated recovery and legal support in the event of digital asset loss.

As part of the ecosystem, Lawrence Stephens provides integrated legal and recovery capabilities, including the coordination of blockchain forensic analysis, asset tracing strategies, and engagement with exchanges and other relevant stakeholders. This enables swift and effective action to trace, freeze and recover stolen digital assets, supporting clients through complex, often cross-border recovery scenarios.

The expanded model represents a shift from traditional, reactive insurance solutions to a more holistic approach, embedding pre-emptive expertise alongside claims and recovery services. By combining legal, technical and operational capabilities, the ecosystem is designed to help clients strengthen resilience before an incident occurs, while improving recovery outcomes where losses arise.

Matt Green, Head of Blockchain, Digital Assets and Technology Disputes at Lawrence Stephens, commented: “We are delighted to continue working alongside Howden, who recognise the importance of having a panel of leading specialists to support clients in this space. Effective recovery requires a combination of expertise, including blockchain forensic analysis, OSINT, and active engagement with exchanges and other stakeholders to trace, freeze or seize stolen assets.”

This latest development reinforces Lawrence Stephens position at the forefront of digital asset disputes and recovery, and highlights the firm’s ongoing role in supporting innovative, market-leading solutions for clients operating in the Web3 and blockchain space.

Lawrence Stephens and Fidelius launch joint venture, LS Wealth

Posted on: June 2nd, 2026 by Alanah Lenten

Fidelius, the Bath-based advisory firm, and Lawrence Stephens, the London-based law firm, today announce a new joint venture, LS Wealth.  This new venture will combine Lawrence Stephens full-service legal expertise with Fidelius’s fast-growing, objective-based financial planning business to create a fully integrated experience for clients.

The new venture, LS Wealth, is a trading style of Fidelius. With a seamless client experience at its heart, the joint venture will see strong collaboration between the two brands, expanding the proposition for both firms and increasing opportunities to generate leads and referrals.

Steve Skelding, Head of Commercial at Fidelius, said: “We are excited to have the opportunity to work closely with the skilled professionals at Lawrence Stephens as we launch our new venture, LS Wealth. There is a close cultural fit between our two businesses, rooted in exceptional client service. Our brands also feel aligned in terms of our commercial approach, so we look forward to seeing what we can achieve as we join forces in this way.”

Steven Bernstein, Chief Executive Officer at Lawrence Stephens, added: “We’re delighted to team-up with Fidelius. We believe that a joined-up approach from professional advisers can provide the optimum outcome for our clients. Fidelius’ clients often engage with them at some of the most critical stages in their personal or business journey. It’s no surprise then to find that they are often seeking legal advice at the same time as reviewing their wealth management options. We have enjoyed a longstanding relationship with their like-minded team who share our values, ambition and commitment and we look forward to working with them in this exciting new venture”

Lawrence Stephens Advises on the Sale of Agility Fleet to Driveway Vehicle Solutions

Posted on: May 18th, 2026 by Ella Darnell

Lawrence Stephens is pleased to have advised the shareholders of Agility Fleet Holdings and its subsidiary companies on the successful sale of Agility Fleet Holdings to Driveway Vehicle Solutions, part of Lithia UK.

Agility Fleet, a Bromsgrove based fleet management, contract hire and leasing business, has built a strong reputation for delivering responsive and customer focused services over more than two decades. The transaction sees Driveway Vehicle Solutions acquire Agility Fleet’s managed vehicle portfolio, FCA registration and operational expertise, adding more than 1,200 vehicles to its fleet and strengthening its position as a leading UK provider.

Lawrence Stephens advised the shareholders of Agility Fleet, throughout the transaction, supporting them through the sale process and helping to deliver a smooth and successful outcome.

Commenting on the transaction, Jeff Rubenstein, Head of Corporate and Commercial at Lawrence Stephens, said:

“This transaction represents a fantastic outcome for the Agility Fleet shareholders following many years of dedication to building a high quality, customer focused business. It has been a pleasure to support them through this important milestone and to help secure a future for the business with Driveway Vehicle Solutions, which is well positioned to drive the next phase of growth. This deal reflects the continued strength of the market for well run, service led businesses and the strategic appetite for acquisitions that deliver immediate scale and capability.”

Keith Townsend, Chairman of Agility Fleet, added:

“Lawrence Stephens provided invaluable support throughout the transaction, guiding us carefully through each stage of the process. Their pragmatic advice and deep understanding of our objectives helped ensure a smooth and successful outcome. We are incredibly grateful for their support as we complete this important chapter for the business and move into its next phase with Driveway Vehicle Solutions.”

Driveway Vehicle Solutions, which has experienced strong growth over the past year, continues to pursue an ambitious strategy to expand its fleet and capabilities, with a focus on delivering enhanced choice, service and value to customers. The acquisition of Agility Fleet marks a further step in that journey.

The Lawrence Stephens team was led by Jeff Rubenstein, supported by Harshita Samani, Avni Patel and Sophia Dixon.

This transaction reflects Lawrence Stephens’ continued strength in advising founders, owner managed businesses and shareholders on strategic exits, particularly where businesses are transitioning into larger platforms positioned for further growth.

 

Lawrence Stephens Advises Videx Electronics on UK Acquisition

Posted on: May 11th, 2026 by Ella Darnell

Lawrence Stephens is pleased to have advised Videx Electronics S.p.A., a leading Italian manufacturer of advanced intercom and video intercom systems, on the acquisition of its sole and exclusive UK distributor.

The transaction represents a significant milestone for Videx, strengthening its direct presence in the UK market and supporting the continued expansion of its international operations.

Lawrence Stephens acted on the UK legal aspects of the transaction, working closely with Videx and its advisers across jurisdictions to deliver a seamless cross border deal.

The matter was led by Jeff Rubenstein, supported by Harshita Samani, Krysha Hunt, Emma Cocker, Isobel Moran and Avni Patel, drawing on the firm’s experience in cross border M&A and international corporate transactions.

Jeff Rubenstein commented:

“We were delighted to support Videx on this strategically important acquisition. Bringing the UK distribution business in house is a clear statement of Videx’s long term commitment to the UK market, and it was a pleasure to work alongside such a collaborative and well aligned group of advisers to achieve a successful outcome.”

Edoardo Marcantoni, Executive Manager of Videx.it, added:

“This acquisition marks an important step in strengthening our presence in the UK and further developing our international footprint. We greatly appreciated the clear, commercial and responsive support from the Lawrence Stephens team, who worked closely and seamlessly with our advisers in Italy and the UK to guide us through the UK legal aspects of the transaction.”

A number of advisers supported the transaction across jurisdictions, including:

  • M&A Financial Advisory (valuation, acquisition finance and financial due diligence):

Bernoni Grant Thornton (Italy) – Sante Maiolica and Giovanni Marino

  • UK Tax Advisory (including tax due diligence):

Grant Thornton UK – James Moore

  • Italian Legal Advisory:

Lexalia Law Firm – Domenico Mastrangelo and Andrea Lino

Lawrence Stephens would like to thank Videx and all advisers involved for their collaboration and commitment in delivering this successful cross border transaction.

Lawrence Stephens Announces Partnership with Ideas Community

Posted on: May 7th, 2026 by Alanah Lenten

Lawrence Stephens is proud to partner with the Ideas Community, one of the UK’s most influential founder networks, connecting entrepreneurs, business leaders and high-growth companies.

Through events, awards and curated experiences, the Ideas Community creates spaces where founders share ideas, tackle challenges openly and build relationships that drive their businesses forward. This partnership reflects a shared belief: founders benefit most from advisers who understand what they are building and show up as true partners.

As Steven Bernstein, CEO and Founder at Lawrence Stephens explains:

“We see our partnership with the Ideas Community as a long‑term investment in the UK’s entrepreneurial community. As our partnership continues to grow, our focus remains the same: showing up where founders are, contributing value early, and building relationships that last well beyond any single event or milestone.”

Francesca James, Founder of Ideas Community adds:

“We set out to find a legal partner who matches the ambition and pace of our community. Lawrence Stephens doesn’t just act for founders, they think like them and that’s why we’re proud to have them alongside us.”

Supporting founders in practice

Lawrence Stephens will play an active role across the Ideas Community, from roundtables and events to informal legal clinics and founder discussions. The focus is on practical, commercially-minded support, from structuring and governance through to investment, exits and long-term planning.

This approach reflects how the firm works more broadly: building relationships early and supporting clients as they grow.

A shared commitment to growth

The firm supports businesses at every stage, including early-stage ventures through our Flourish programme, which offers tailored legal support for start-ups. We also share practical insight through The Fineprint, our newsletter focused on the realities of building and scaling a business. Lawrence Stephens’ commitment to the SME market is further recognised by its Band 1 ranking in the Chambers UK 2026 SME-focused Firms category.

The partnership officially launched at “The House of Ideas,” an Ideas Community event held at The Britannia in Shoreditch, where a select group of founders and business leaders came together for an evening of conversation, connection and collaboration.

It marked the first of many moments where Lawrence Stephens will be present across the Ideas Community calendar,  from curated dinners and roundtables to major events including the Great British Entrepreneur Awards, the UK Fast Growth Index and Ideas Fest.

Through each of these touchpoints, the aim is simple: to get to know the people behind the businesses, understand what they are building, and offer meaningful, practical support along the way.

As the partnership develops, Lawrence Stephens looks forward to playing an active role in the community,  helping founders navigate the complexities of growth while building relationships that endure.

Learn more about how we help owner-managed businesses and founders here. 

Matt Green on Recovering Privacy Coin Monero (XMR) Following Attempted Laundering

Posted on: April 28th, 2026 by Ella Darnell

This article was written by Matt Green, Partner and Head of Blockchain and Digital Assets, and was published on Thomson Reuters Regulatory Intelligence on 28 April, 2026. Subscription may be required to view.

You can read the full article as published on Thomson Reuters below.

This article details the recovery of Monero (XMR), a notoriously difficult-to-trace privacy coin, following a fraud. The Monero was ultimately recovered through coordinated legal, investigative and law enforcement action.

The author’s client received a call from an individual purporting to represent a cryptocurrency exchange. During the call, the fraudster asserted that the client’s exchange account had been compromised and urgently instructed the client to transfer assets to a trust wallet as a protective measure. 

The fraudsters were in possession of the client’s personal and account details, likely obtained via data breaches. This gave the scam credibility and induced the client to act quickly. 

As a result, the client transferred significant holdings of bitcoin and ether to the fraudster. These were subsequently routed through a series of exchanges and converted into other digital assets, including Monero.

Tracing, initial exchange engagement 

A forensic blockchain investigation traced asset movements to the exchanges FixedFloat, HitBTC and ChangeNOW, where the bitcoin and ether had been converted into other currencies. 

Letters were urgently sent to those exchanges to confirm receipt of the criminal proceeds and to provide instructions on what to do next. The responses varied: some exchanges failed to respond, while others confirmed that certain funds had already been dissipated. 

Importantly, some of the assets had been converted into Monero and remained identifiable at ChangeNOW, which then froze what it had and confirmed compliance with the requests made in the letters.

Law enforcement involvement, freezing order 

With assistance from the Metropolitan Police cryptocurrency investigations team, and relying on blockchain forensics, an application was made to Westminster Magistrates’ Court for a crypto wallet freezing order. 

The court granted a freezing order under section 303Z37(2) of the Proceeds of Crime Act 2002, formally freezing the Monero held at ChangeNOW for an initial period of six months. This step was critical in preserving the remaining assets while further recovery steps were pursued. 

Order to release cryptoassets 

Upon expiry of the six-month freezing period, an application was made for a declaration that the Monero belonged and was deliverable to the clients.

The Court granted a cryptoasset release order for Monero assets pursuant to sections 303Z50(4) and (5), and 303Z51(4) and (5) of the Proceeds of Crime Act 2002. Service of the order on ChangeNOW was effected by the Metropolitan Police.

Custody, attribution and transfer

Given the technical complexity of sending Monero, which is designed to evade tracing, specialist asset custody and attribution support was required. 

Asset Reality, which seizes, manages and disposes of traditional and digital assets, was instructed to receive, attribute and manage the Monero. To mitigate attribution risk, an initial test transfer was conducted. Asset Reality required specialist knowledge to identify which Monero assets were sent by ChangeNOW, which is highly uncommon. The remaining balance was subsequently transferred once verification was complete. 

Outcome 

Once the Monero was in Asset Reality’s custody, it was able to locate an approved buyer for onward handling and sale. The client then received fiat currency into his personal account. This marked the successful recovery phase of assets that had initially appeared, by design, almost impossible to recover. 

Legal, practical takeaways 

This matter illustrates several important points for practitioners and victims of cryptoasset fraud: 

  • Recoveries remain possible, even where assets are converted into privacy coins.
  • The use of Monero or a similar, privacy-focused cryptocurrency does not render recovery efforts futile when timely tracing, freezing and expert handling are deployed. 
  • Law enforcement engagement is increasingly effective and proactive.
  • The involvement of specialist police crypto teams can be decisive, particularly in securing freezing and release orders under the Proceeds of Crime Act 2002. 

This case demonstrates the practical effectiveness of combining civil recovery mechanisms under the Proceeds of Crime Act 2002 with technical blockchain expertise and law enforcement support. It provides a clear example that even in cases involving Monero, the legal system has viable tools to preserve and recover misappropriated cryptoassets when action is taken promptly and collaboratively.