Four men ordered to repay almost £1m from Shropshire fraud
Friday 4th March 2011, 4:40PM GMT.
Four men jailed for their part in an “utterly ruthless” fraud which used a bogus company based in Shropshire have been ordered by a court to pay back a total of almost £1 million.
The company, called Prudential Commercial Investments, used offices at The Case Mill in Ludlow and was set up to fleece unsuspecting investors. The fraud targeted dozens of UK citizens living and working around the world with the company used as a front to steal almost £2 million.
But a joint investigation conducted over a six-year period by the West Mercia Police Economic Crime Unit and the Serious Fraud Office led to the arrest of six men who appeared before Worcester Crown Court during a 10-week trial in October 2009.
Five of them received substantial jail sentences and under the Proceeds of Crime Act, the police have succeeded in recovering more than £982,000 from the assets of four of them.
Full story in Saturday’s Shropshire Star
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