Confiscation proceedings concluded yesterday with an order from HHJ Globe QC of £1million confiscation to be paid as compensation to victims in relation to Peter Brian Bradley. An earlier confiscation order of £69,433 was made in January last year against co-defendant Peter William Stott.
SFO lawyer James Wilson said of this result, "The Serious Fraud Office is committed to making a difference by ensuring that criminals surrender their proceeds of crime and compensation is paid to their victims. We take a proactive and aggressive approach and we will focus all the investigative and legislative tools at our disposal to do so."
Background
Peter Brian Bradley (D.O.B. 18.07.49) Managing Director and Peter William Stott (D.O.B 23.02.67) Finance Director of Alta Gas Plc were both sentenced for Fraudulent Trading and False Accounting offences in May 2008. For further background information on case, please see sentencing press release dated 16 May 2008.
Proceedings
Details of the confiscation orders are as follows:-
Stott's Confiscation Order was given on 28 January 2009 in the sum of £69,433 payable within six months or a two year sentence in default.
Bradley was ordered to pay £1million confiscation by 5 March 2010 or incur a default sentence of five years imprisonment. A compensation order of the same amount was made in favour of the victims of the fraud.
