Monday, August 4, 2025
Lancashire Police are to receive £500,000 to reinvest in crime-fighting following a major fraud investigation.
Officers launched an investigation in December 2017 after a report money had been stolen from a victim. Following further enquiries, it was found the offenders had later converted the money into Bitcoin.
Those responsible, from the Blackpool, Fleetwood, and Blackburn areas were previously dealt with at court and sentenced.
As the Bitcoin continued to rise in value over time, it increased to more than what was originally stolen.
In a first for the force, a crypto wallet freezing order was enforced, part of new powers under the Proceeds of Crime Act, allowing the application for its forfeiture.
The victim was compensated in full and as the law does not allow victims to be overpaid, a surplus amount of £1m remained. Following the application before a judge, the forfeiture was granted with the proceeds to be split between the Home Office and Lancashire Police.
At today's value, Lancashire Police will receive half of the £1m total, so £500,000 to reinvest into fighting crime, part of the Prevention and Problem-Solving Innovation Fund. The force will receive this money within a few months.
The fund is specifically for the assets seized and confiscated from criminals. By taking away the financial gains of criminals and using them for positive purposes, the fund helps to disrupt the cycle of crime and prevent future offences.
The money in this fund is prioritised for local community projects, crime prevention programmes, and initiatives which aim to make a positive difference to deal with crime prevention and reduction.
Some examples of where this money has been invested in previously in Lancashire include funding for crime fighting equipment such as drones, spam call blocking devices and community projects approved by our Antisocial behaviour (ASB) Prevention team.
Det Sgt David Wainwright, of Lancashire Police’s Economic Crime Unit, said: “This is a great result for the people of Lancashire, and hopefully the first of many future uses of this new legislation.
“It’s unusual for the criminal property to raise in value to more than that of the original crime, but this has allowed us to fully compensate the victim, with some spare that can be used to reduce crime, helping us to protect the people of Lancashire.”