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Central Criminal Court increases value of a confiscation order.

London: Central Criminal Court Judge Grieve QC increased the value of a confiscation order made against Benjamin Wilson, a convicted fraudster, from PS1 to PS31,905.33.

The hiked order must be paid within 28 days or Mr Wilson will face a further 14 months in prison. The amount of the increased confiscation order represents monies currently held in a Santander bank account in Mr Wilson's name. The bulk of the balance in the account is as a result of a payment of PS31,825.18 made by the John Lewis Partnership upon the death of Mr Wilson's mother who worked for the Waitrose supermarket chain. He received the sum as one of three beneficiaries named by her.

The court found that Mr Wilson's assertion that he had rejected his inheritance from his late mother was a sham and that he is therefore entitled to a one third share of her estate on top of the payment from the John Lewis Partnership. The value of Mr Wilson's share will be determined once the estate has been administered and the amount of the confiscation order will be further increased as a result. As at today's date, his share is believed to be worth in the region of PS145,000.

Executive Director of Enforcement and Market Oversight at the Financial Conduct Authority Mark Steward said: "Mr Wilson's activities defrauded over 300 victims and today's outcome sends a clear message that crime does not pay. The FCA will continue to take steps to ensure that assets are confiscated from those who benefit from their criminal conduct, including seeking increased confiscation orders, where appropriate."

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Jun 27, 2018
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