Man ordered to pay confiscation order of over four million pounds

19/01/2012

Paul Wood, 50, of Bradford on Avon was ordered to pay a confiscation order of over four million pounds after the Royal Courts of Justice granted the order made by CPS Wessex on January, 16.

Lynne Henderson, Crown Advocate for the Crown Prosecution Service  (CPS)  in Wessex, said: "CPS Wessex successfully applied to the Crown Court for a confiscation order in the sum of £4,812,245 against a defendant who was sentenced to three years for fraud. 

"Paul William Patrick Wood aged 50, from Bradford on Avon in Wiltshire, pleaded guilty to eight counts of fraud in May 2010 at Swindon Crown Court. The prosecution case was that he defrauded Friends Provident where he held two investment bonds.
 
"The CPS worked closely with Wiltshire Police from the early stages of their investigation.  This strong team work and the invaluable support from Friends Provident ensured the defendant was not only brought to justice and convicted, but also that he will be deprived of the criminal property he obtained.  
 
"Since last April, confiscation orders in excess of £1.4 million have been made against defendants in Wessex. This demonstrates how serious and determined the police and Wessex CPS are in ensuring criminals are stripped of their ill-gotten gains and victims are compensated for the crimes committed against them."

Richard Mahoney, Wiltshire Police Financial Investigator, said: "This case is an example of our determination to bring to justice perpetrators of criminal activity and ensure that the Proceeds of Crime Act is used to remove ill- gotten gains. A percentage of confiscation monies will be returned under the incentivisation scheme to be re-invested into the community."