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Ian McGarry confiscation order paid in full

2 Medi, 2014 | Eitemau newyddion

The SFO can announce that a confiscation order of £1,549,447.95, imposed at the request of the SFO, has been paid in full.

Ian Mark McGarry was sentenced in June 2011 to 6.5 years in prison for offences of conspiracy to obtain money transfers by deception (contrary to s1(1) Criminal Law Act 1977) and obtaining money transfers by deception (contrary to s15a(1) Theft Act 1968). Further information on Mr McGarry’s conviction and confiscation order can be found here and here.

Mr McGarry was ordered to pay a confiscation order of £1,549,447.95 or face another 6 years in prison. Mr McGarry also paid a total of £157,342.87 in accrued interest, as he exceeded the time to pay which he was permitted by HHJ Beddoe, whilst sitting at Southwark Crown Court on 30th August 2012.

Commenting on the payment of this order, Mark Thompson, Head of the SFO’s Proceeds of Crime Division said, “The Court found that Mr McGarry had benefitted substantially from his criminality. The complex way in which Mr McGarry had arranged his affairs made this a protracted and complicated enforcement; however the SFO is committed to ensuring that fraudsters do not benefit from their crimes.”

Notes to editors:

1.Ian McGarry’s confiscation order was paid in full on 19 August 2014.