Fraudster duped his victims of more than £70m
Fraudster Jeffrey Revell-Reade, dubbed the 'Wolf of Wimbledon' after duping more than 1,000 British investors out of more than £70m has been jailed for an extra four years.
Australian Revell-Reade, aged 53, blew a fortune on yachts, mansions around the world and private jet hire after masterminding the high level boiler room scam.
Together with Anthony May, he treated himself to vintage wine collections, top of the range cars and luxury travel after duping investors. He even spent £72,000 on works of art by Rolf Harris.
A London court has now activated a default prison sentence for Revell-Reade, who was convicted in 2014, after he repaid less than half of a £7.5m confiscation order, the Serious Fraud Office said on Wednesday.
He is already serving nine years and six months, had returned only around £3.5m, the fraud office said. He will remain liable for the full amount once his sentence is served.
A part-completed house owned by Revell-Reade at 27 Belvedere Avenue, Wimbledon, was sold for £3.55m in October 2016.
The four-storey home had six bedrooms and an indoor pool, but much of it was still a shell with no staircase, electricity or fittings when it was sold.
June 28, 2018