Penelope Small successfully prosecutes fraudster, Jeffrey Revell-Reade, who has prison sentence of 4 years activated by Westminster Magistrates’ Court for failure to pay a £7,535,802 confiscation order.
Revell-Reade, who is currently serving a 9 year 6 month sentence for one of the largest boiler room fraud schemes ever pursued by a UK authority, was ordered to pay a confiscation order for £7,535,802, however, only £3,497,000 has been paid so far. He will still remain liable for the full amount once this sentence is served.
Their convictions were linked to seven other individuals, also convicted and sentenced following a seven year investigation by the SFO.
District Judge Snow said in activating the default sentence:
“I have no doubt at all that given his record of offending, given his failure to meet the order, given the lies he has told previously and given the bogus high court claim, that the assets are available to Mr Revell-Reade as found by the Crown Court and that the reason for his behaviour is that he is wilfully refusing to settle his order.”