A conman and his estranged wife who led a champagne lifestyle in Shropshire after a banking scam have been ordered to pay back more than £700,000 – or face more time behind bars.

Timothy Baker, 37, and ex-wife Rachael, 38, who lived in Shifnal, blew a fortune on expensive cars, designer suits and renting a huge manor house on the proceeds of the fraud.

In May 2009, Baker admitted two charges of conspiracy to defraud and was jailed for six years.

His wife was given 12 months in jail suspended for two years. She admitted concealing criminal property.

A proceeds of crime hearing at Southwark Crown Court heard the couple, who both now live at separate addresses in Walsall, made more than £1.5m after fleecing the Royal Bank of Scotland and HSBC in a loans scam.

They now have to pay back £726,184 within the next six months or face jail in default.

Timothy Baker must return £686,008 or face an extra three years behind bars, while Rachael must repay £40,176 by next May or she will serve 12 months.

Baker, who trained as an accountant, abused a loans system designed to help business cashflow first by sending RBS bogus ‘fresh air’ invoices worth £675,000, the court heard in 2009.

While on bail for that offence he used the alias ‘Tim Hench’ to mount a second £176,000 con against HSBC. As Hench he was photographed playing the part of a slick and tanned high-flier with his wife at an industry awards ceremony hosted by Irish comedian Dara O’Briain.

Passing sentence at the time, Judge Peter Testar said: “Tim Baker is a very accomplished and ruthless conman.

“He is obviously attached, very inclined, to the trappings of wealth, living in a rented manor house and at the same time buying a substantial property while he was bankrupt.

“He impressed all who met him with his confidence and charm and expensive cars.

“A Range Rover and Aston Martin and hand-made suits are all examples of that.

“He is to my mind a professional fraudster.”

Of his ex-wife, the judge said: “She was a party to the lavish way of life they had and she benefited from it.”