Third And Final Conspirator Receives Confiscation Order
On the 21st of April, a 50 year old man from Salford, Manchester received a confiscation order at Liverpool Crown Court. He was the third and final conspirator in the investigation into Alliance Ventures, bringing the total confiscation figure to £1,014,758.32.
Alliance Ventures was a business run by three men located in Middleton, Manchester. During the period of the fraud, which stretched from 1998 to 2004, they purported to offer international commercial finance to the business community in order to faciliate the development of various commercial projects. However, Alliance Ventures had no access to these funds and were therefore incapable of providing this service. Alliance Ventures obtained advance fee and other payments from numerous international victims with the sums they received totalling £3,528,030.52.
This fraudulent business afforded the three individuals large sums of money, which they used in various ways.
The Metropolitan Police's Serious Crime Directorate carried out the financial investigation into Alliance Ventures, which resulted in convictions for all three conspirators for the offence of conspiracy to defraud. One of the men received a 6 year prison sentence on the 14th of February 2007, the second was given a 4 years and 9 month prison sentence on the 9th of June 2008 and the third received a sentence of 2 years imprisonment on the 25th of October 2007.
The London RART took on the financial investigation for this case and has brought it to a successful conslusion with all three conspirators receiving confiscation orders.
On the 15th of December 2008, one of the men was ordered to pay £425,000 with a further three and a half years being added to his sentence if he fails to satisfy the order. The second was ordered to pay £164,758.32 on the 16th December 2008 or he will face a further 27 months imprisonment. The third man received the final order, which was made for the sum of £425,000 and which he must pay by the 30th of September 2010, or a further 3 and a half years will be added to his sentence.
The financial investigation was initially led by Mike Torpy from HM Revenue and Customs, who has since retired. His successor, Mike Atkinson, took over the investigation.
DCI Sean Wanless, Head of London RART said: "The custodial sentences imposed on these men and the confiscation of £425,000 of the proceeds of their crimes, reflects the thorough and professional investigation conducted by The London Regional Asset Recovery Team in combating fraudsters and money launderers."