Pay £700k, court orders
31 March, 2017
A CONVICTED money launderer from Clerkenwell has been ordered to pay back more than £700,000 of criminal earnings after his claim he was too poor was rejected.
The Crown Prosecution Service opposed Terry Adams’ application, saying there was a strong case he possessed “substantial undisclosed assets”.
On Monday, Lord Justice Longmore, Lord Justice Hamblen and Lord Justice Irwin at the Court of Appeal upheld the High Court’s decision.
Adams was jailed in 2007 for seven years for money laundering. A confiscation order of £750,000 was made. He has since paid almost £400,000, but the total owed is still more than £700,000 due to interest.
Adams claimed he was supported by his actor wife Ruth, but evidence of spa memberships, private dental treatment and nights out undermined his story.