The Serious Fraud Office has secured near £500k confiscation order against a convicted scammer who preyed on British expats in Asia.
Alan Edwin Gardner, 57, was found to have defrauded a number of overseas investors via fictitious investment scheme where he falsely claimed their money was being invested through reputable Swiss bank UBS AG.
The SFO said in statement that it has secured an additional £491,967.97 uplift to the 2009 confiscation order against Gardner, after uncovering additional assets.
Gardner was convicted in June 2009 after an SFO investigation revealed how he had persuaded investors, members of the expatriate community in Jakarta, to hand over their savings on the false promise of generous, and in some cases guaranteed, returns. While investors believed their money was growing, the funds were in reality spent by Gardner on personal expenditure or used to offset betting losses.
SFO investigators recently uncovered that Gardner had acquired additional assets since his original confiscation order was made, including equity in two UK properties, luxury vehicles and a number of bank accounts. The SFO acted swiftly to recover these, and the funds will go back to the public purse.
Imprisonment
Gardner was sentenced to six years’ imprisonment by Worcester Crown Court in June 2009. The SFO has already secured £186,151.16 through a previous confiscation order, which Gardner paid in full.
Paul Napper, Head of Proceeds of Crime and International Assistance Division at the SFO, said: Alan Gardner exploited the trust of British people far from home, convincing them their savings were in safe hands while he spent every penny. A conviction is never the end of the road for the SFO, and our proceeds of crime team will always make sure crime never pays.”
