Fraudster Hughes hands back £53k after legal bid
GLASGOW fraudster Barry Hughes has handed over £53,000 in assets after he was served with a ‘dirty money’ confiscation order.
The former boxing promoter had a legal hold over him recalled at the Court of Session in Edinburgh on Friday after he handed over assets or an equivalent cash sum.
However, prosecutors say he isn’t off the hook just yet as they can still pursue the rest of the £2.9 million that was agreed to be his “benefit figure” from crime.
Hughes’ seized assets included a £5,600 Vertu Constellation mobile phone as well as numerous Rolex and Cartier watches. The Crown Office said: “The order for the full value of the frauds will remain active against Hughes until every penny is paid back, however long that takes.”
Last month Hughes took part in a BBC documentary where he claimed businessmen were allegedly using weaknesses in the bankruptcy system to keep hold of their money and assets.
He declared himself bankrupt i n 2014 owing £10 million.
Hughes was jailed in March 2013 for 43 months but his sentence was overturned and he was fined £45,000.
He claimed his wife Jacqueline made £160,000 from her business McDonald Interiors – but divorce papers lodged by her in 2006 stated she was “financially dependent” on her husband.
Hughes lied on mortgage applications about his wife’s income for the homes. He also admitted two money laundering charges – for receiving £128,885 after selling the first property and spending £30,000 towards a Rolex.