Way back in 2013 we looked at the case of James McCormick who was jailed for 10 years for selling fake bomb detectors. We said : “Thereafter we envisage that the police will pursue McCormick’s wealth under the Proceeds of Crime Act 2002 in order to prevent him benefiting financially from his crime. McCormick now faces loss of his several properties, including that previously belonging to Nicholas Cage”
That was what happened – Mr McCormick was made subject to a whopping £7,944,834 Confiscation Order which “included £4m from the sale of a house in The Circus in Bath; an £88,000 parking spot; a luxury villa in Limassol, Cyprus; a £345,000 Sunseeker motorcruiser as well as a family home in Somerset.”
To date this has not been paid in full, there is a shortfall of £1.8 million. Mr McCormick is still serving his original sentence, but is to be released very shortly.
On 26th April 2018, it was reported that Mr McCormick was back in Court having refused to make up the shortfall, as a result of which he was ordered to serve a further 842 days (almost 2 years and 4 months) in default.
Confiscation is a complicated and lengthy subject and we have always said that we would tackle it at some point. That day however, is not today. We may wait for a leap year …