Paul and Gregory Spicer used an address in Merton as part of their betting advice scam
Two brothers who made millions of pounds in a betting scam have been hit with a £6.1m confiscation order thanks to the work of Merton trading standards team .
Paul and Gregory Spicer from Brighton, moved around the UK, setting up temporary offices with telephone lines offering betting advice.
They duped members of the public by sending out thousands of professional-looking brochures promising guaranteed profits if punters followed their tips. Some of the claims they made included returns of £50,000 on payment of a £49 joining fee and up to £500,000 for joining at £199.
As part of their deception the pair also set up fictional characters claiming to have business studies degrees from Cambridge University and that their scheme was approved by the Financial Times. Many people across the UK parting with £2,000 to £10,000 on the pretext of importing blood stock from Australia.
In 2010, the brothers were sentenced to seven years imprisonment for defrauding innocent residents, and following their conviction Merton trading standards team started proceedings to get back their ill-gotten gains.
The Spicers have six months to pay or face returning to prison, serving an additional eight years, as well as still being liable to pay the £6.1m which will be distributed by the Home Office and used for crime reduction and community based projects.
As part of their deception the brothers also set up fictional characters claiming to have business studies degrees from Cambridge University and that their scheme was approved by the Financial Times. This led to many people across the UK parting with £2,000 to £10,000 on the pretext of importing blood stock from Australia.
Cabinet member for environmental cleanliness and parking, Councillor Judy Saunders, said: “This is an outstanding result for our trading standards team who have shown great tenacity, dedication and professionalism during this case.
“We work hard within Merton to ensure criminals do not get away with ripping off law-abiding residents. This case shows we will use all the powers at our disposal to pursue anyone thinking of defrauding the public.”
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