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Convicted fraudster ordered to pay £1.5m

14 November, 2014 | News Releases

A former director of investment firm Imperial Consolidated Group, convicted for his part in a global fund conspiracy, has today been ordered to pay a confiscation order of £1,458,317.65 from which all the money will be paid in compensation to victims.

William Godley was convicted in 2010 for conspiracy to defraud in an international scheme that attracted over £250m from approximately 3000 investors. The investors believed that their money would be used to finance a commercial loans business from which they would gain interest. Instead the money was being used to fund a lavish and extravagant lifestyle.

Mr Godley was sentenced to three years and six months imprisonment and disqualified for acting as a company director for six years in August 2010.

SFO Proceeds of Crime investigator, Paul Wilson said:

“The Court found that Mr Godley had benefitted substantially from his criminality and the order made today reflects this. Despite his guilty plea, this has been an extremely protracted legal process but the SFO is committed to ensuring that fraudsters do not benefit from their crimes. If he does not pay, Mr Godley faces a further period of imprisonment and the SFO will take steps to enforce the order so that his victims can finally receive some compensation.”

Mr Godley was given six months to pay the confiscation and a three year sentence of imprisonment in default of payment.

Notes to Editors:

  1. More information about the case, conviction and the sentence.
  2. The confiscation order took place at the High Court today.