Tresaderns & Partners SL, Price Stone Group SL and Anderson McCormack SL (Gooding, Rumsey, Emery, Morris, Hughes, Farmer and Coleman)
Six individuals were sentenced to between three and seven years in May 2013 as a result of an SFO investigation into what is believed to be one of the largest boiler room frauds ever pursued by a UK authority. These sentences followed the defendants being convicted by a jury on an indictment containing a single count of conspiracy to defraud. The six defendants formed the senior management and operations team for three Madrid boiler rooms and conspired with Mr Jeffrey Revell-Reade and Mr Anthony May to defraud investors with or through the entities Tresaderns & Partners SL, Price Stone Group SL and Anderson McCormack SL. The defendants were arrested between 2007 and 2009 and were charged in 2010. A seventh defendant pleaded guilty to three counts of money laundering and was sentenced to 21 months’ imprisonment, to be suspended for two years.
Daniel Gooding confiscation update
Daniel Gooding had his confiscation order, originally made on 11 December 2014 for the amount of £725,968.51, uplifted to £981,280.78 by Southwark Crown Court, on 17 November 2016. He was ordered to pay this figure within seven days and the default sentence of 4 years passed with the original order still applies.
Outcome of criminal case
Mr Gooding, Mr Rumsey, Mr Morris, Mr Emery, Mr Hughes and Ms Farmer were convicted on a single count of conspiracy to defraud. Ms Coleman pleaded guilty to three counts of money laundering.
Daniel Gooding was sentenced to 7 years in imprisonment. Shaun Rumsey, Philip Morris and Jon Emery were sentenced to 5 years imprisonment. Ian Hughes and Emma Farmer were sentenced to 4 and 3 years imprisonment respectively. Michelle Coleman was sentenced to 21 months imprisonment, to be suspended for two years.
Confiscation order of £109,510.34. Given 21 days to satisfy the order or incur a default prison sentence of two years.
Confiscation order of £58,127.71. Given six months to satisfy the order or incur a default prison sentence of one year and six months. The SFO applied on two occasions to increase the order in respect of additional sums. The order was increased by £43,792.82 to £100,920.53.
Confiscation order of £8,000. Given six months to satisfy the order or incur a default prison sentence of five months.
Confiscation order of £154,412. Given six months to satisfy the order or incur a default prison sentence of two years and six months. The order was reduced to £140,564.07 in line with a reduction in the value of Mr Emerys’ assets.
Confiscation order of £318,709.05. Given six months to satisfy the order or incur a default prison sentence of three years and six months. The order was reduced to £220,004.23 in line with a reduction in the value of Mr Rumseys’ assets.
Confiscation order of £981,280.78, uplifted from £725,968.51 on 17 November 2016. Given six months to pay or incur a default prison sentence of four years. Time to pay has been extended and an Enforcement Receiver was appointed to sell Mr Gooding’s properties.
Confiscation order of £117,000. Given 6 months to pay or incur a default prison sentence of over two years. The deadline for payment was extended by the Court to 12 months. The total amount paid in respect of the above orders, as at 25th February 2016, is £1,407,654.82.
At the SFO’s request, all amounts recovered from Daniel Gooding, Shaun Rumsey, Philip Morris, Jon Emery, Ian Hughes and Emma Farmer are to be paid in compensation to victims already identified. At their respective confiscation hearings the defendants were given six months to pay their confiscation orders. Some of those defendants have had their time to pay extended by the Court. The SFO and HMCTS are committed to doing all we can to ensure that the defendants pay their orders in full. You can obtain further updates regarding payments from HMCTS using the following contact details; telephone 0207 556 6556 or email: LCCCConfiscationunit@hmcts.gsi.gov.uk.
Page published on 22 Apr 2015 | Page modified on 18 Jul 2018