A man convicted of money laundering has been ordered to pay back more than a million pounds. Peter Martin is serving seven years - but will have another five years added to his sentence if he can't pay up.
When Police searched Martin's home near Bath they found huge quantities of cash - including three hundred and fifty thousand pounds in his garage. Richard Payne has the story.
Peter Martin had no declared income but lived a lavish lifestyle and refurbished his home to a very high standard, using the proceeds of crime which represents money made from other people’s misery. We are committed to seizing all assets that criminals have gained as a result of crime. It is not acceptable that criminals benefit from illegal activities and we will relentlessly pursue them through the courts to ensure all their money is taken. By doing this we will show criminals that they will not benefit from crime and hopefully deter others from entering a life of crime."
– Dr Kirstie Cogram, Manager, Avon & Somerset Constabulary’s Financial Investigation Unit.
A man from near Bath has been ordered to pay back £1.2million he made through money laundering and fraud offences.
Taunton Crown Court heard that 68 year old Peter Martin of Norton St Philip benefited from crime by £1,204,143.58.
He will lose his £900,000 home at Barnfield, Chatley Furlong, £373,000 in cash, and £17,000 he gifted to someone else.
On January 21, 2011 he was sentenced to nine years, reduced to seven on appeal, in prison after being convicted of concealing criminal property, converting criminal property and obtaining a money transfer by deception.