Fraudster wins UK frozen cash appeal

An israeli fraudster has won a battle to protect family assets in the UK from seizure by the UK authorities.

Israel Perry was jailed in Israel in 2008 for 12 years (later reduced to 10 on appeal) – and fined £3 million for a fraud involving pension funds.

In 2009, his and his family’s UK assets, including £14 million in banks, were frozen.

But Britain’s Supreme Court ruled on Wednesday that the freezing order went beyond UK jurisdiction and said it would have to be redrawn.

Last updated: 11:00am, July 26 2012