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THE Serious Fraud Office has confiscated more than £1million from one of the world’s major share swindlers, and the cash will be handed over to 200 of his victims.
Jeffrey Revell-Reade was jailed for nine years and six months in 2014 and ordered to repay more than £7million of
the £70 million his victims invested and lost in a lengthy series of stock market frauds.
The Australian-born crook personally pocketed an estimated £37 million when he headed a network of scam broking firms in Britain, Spain and Germany. He is known to have bought three apartments in Marbella and a £5million luxury home in Wimbledon. The SFO has already recovered £3million for victims, and the latest confiscation follows its seizure of a penthouse on the Costa del Sol.
The Mail on Sunday first warned against one of RevellReade’s
scam broking firms as long ago as 2003.
A year later, I named RevellReade and linked him to corrupt London brokers Pacific Continental Securities, which he secretly controlled. In 2007, the Financial Services Authority fined the firm and it closed down. The SFO then opened its own investigation, which led to the conviction in 2014 of a total of nine people.
Emma Luxton, the SFO officer who heads the seizure of proceeds of crime, said: ‘This result demonstrates our tenacity and commitment to ensuring victims receive the justice and compensation they deserve, no matter the complexity of the investigation or how many years have passed since the crime was committed.’