Jailed solicitor ordered to pay back £1m proceeds of crime

Asolicitor jailed for fraud has been ordered to pay back more than £1m in criminal assets – or face further time in prison.

Timothy Schools was sentenced to 14 years in 2022 for his role in a fraudulent scheme in which investors lost an estimated £100m.

The Serious Fraud Office brought further action through a proceeds of crime investigation. It secured a confiscation order against Schools after showing that he had hidden some of the proceeds of the fraud with members of his family, disguised as loans.

Southwark Crown Court ordered that if Schools fails to repay the confiscated money, he will face an additional five years in prison.

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