ASSETS belonging to a High Wycombe businessman totalling £350,000 have been frozen while he is investigated.

Houses, businesses, bank accounts and vehicles belonging to Carlos Graham Layne were obtained by the Assets Recovery Agency (ARA) following a tip-off by Thames Valley Police.

In a statement to the Bucks Free Press, Julie Davis, of the ARA, said it contends that assets had been obtained "as a result of unlawful conduct linked to drug dealing, money laundering, and handling stolen cars."

She added that Mr Layne had not been convicted of a crime and will have an opportunity in the future to explain how he came by the assets lawfully.

Mr Layne, of Magnolia Dene, has had seven houses and a flat, four bank accounts, eight businesses and a "large number" of vehicles held by the ARA.

According to the ARA, companies run by Mr Layne include Prestige Cars, Independent Car Hire, Prestige Salvage and Credit Card Solutions the latter of which is alleged to be run from his current home address.

Interim Receiving Orders were granted in the High Court last Monday after the ARA satisfied the court there were good arguable cases to suspect Mr Layne had acquired his assets unlawfully.

The decision paves the way for an independent officer of the court to investigate and submit a report.

Should the report deem assets were obtained illegally the ARA will apply for a Civil Recovery Order to seize them.

Jane Earl, ARA director, added: "In just under two years of operation the agency is making a real impact and is applying its unique powers firmly and fairly.

"We are getting good quality referrals and cases are moving through the process more quickly.

"As we approach our second birthday I can promise those that are holding unlawfully acquired assets that our commitment to make sure that crime doesn't pay is as strong as ever."

The agency was established in 2003 under the Crime Act and currently plays a key role in the Government's pledge to trace and recover assets acquired illegally.

Det Insp Phil Chandler, who led the Thames Valley Police side of the operation, said: "This is a really positive result." He added: "Powers afforded by the ARA mean the High Court order authorises any person with information, including financial institutions and businesses, to disclose it."