In February 2021, after a two-year battle, highly respected District Court Judge Ezzat dismissed an application by the UK’s National Crime Agency for forfeiture of approximately USD 2.5 million of PacNet’s funds and ordered their immediate return. His Honour criticized the Agency for relying on American authorities' allegations instead of looking at the evidence and forming an impartial view. He specifically found that with respect to fraud allegations, the amount of fraud involved in transactions processed was no more than would typically be expected by a payment service provider within the volume of transactions processed. PacNet will now vigorously pursue costs against the NCA, and they will run to hundreds of thousands of pounds.
2021-02-12 NCA v PACNET JUDGMENT Ezzat^J DCJ (pdf)
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