Fraudster ordered to pay £143,000 more towards his confiscation order

|News, Proceeds of crime

A man convicted of fraud has been ordered to pay back a further £143,000 following a successful application by the CPS.

Adrian Cole, 42, was convicted of mortgage fraud in 2009. At a confiscation hearing, the court found he had benefited from his crimes by £575,000, and the court ordered him to pay £55,000 towards satisfying this amount. He was able to pay without selling his two London properties.

Cole was convicted again in 2014 for conspiracy to supply class A drugs and money laundering. In the confiscation hearing which followed, the CPS showed Cole had benefited from his crimes by £222,000, and ordered him to pay £189,581 towards satisfying that amount or serve another 18 months in prison.

The CPS also revisited the 2009 order, arguing that Cole now had more assets available to satisfy that confiscation order. The court agreed and ordered Cole to pay an extra £143,000, or serve another four years in prison.

Cole must now pay the court £332,581, or serve another five-and-a-half years in prison.

Joe Nahal Macdonald, of the CPS, said: “Cole fought hard to avoid paying back the proceeds of his crimes. Despite this, the CPS has worked tirelessly to strip him of his assets and ensure he pays back the hundreds of thousands of pounds he owes.

“The CPS will continue to pursue Cole until all the money he owes has been paid, including applying to the court to get him to sell his London properties.

“Defendants like Adrian Cole cannot continue to benefit from their criminal lifestyles and the CPS will, where appropriate, apply to the court for an uplift of a confiscation order where more assets became available.”
 

Notes to editors

  • Joe Nahal Macdonald is a Senior Crown Prosecutor in the CPS Proceeds of Crime department.
  • Adrian Cole (DOB 04/03/1976) pleaded guilty to concealing criminal property, false accounting and possession of heroin on 14 March 2008 at Isleworth Crown Court. He was sentenced to six years in prison.
  • Cole pleaded guilty to conspiracy to supply Class A drugs in 2014 and transferring criminal property on 9 September 2014. He was sentenced to three years in prison.
     

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