Assets Recovery Agency to be closed

The Assets Recovery
is set to be closed, just four years after promising to
recoup £60m a year in assets from organised crime.

Reports suggest that staff working at the agency, which includes 650
financial investigators, would be transferred as part of a merger with the
Serious Organised
Crime Agency

During 2004-2005 the agency recovered £4.4m in assets, despite costing £20m
to run.

Home Office minister Vernon Coaker said the agency had steered through
radical new powers through every legal challenge it faced, according to The

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