Back in prison for not coming clean over finances

25 November 2011

A convicted criminal will serve an eight week prison sentence for failing to report his financial affairs to SOCA.

Terence George Adams, 56, of Barnet, London, pleaded guilty of four breaches of a Financial Reporting Order at the City of Westminster Magistrates Court today. He was jailed for seven years in March 2007 for conspiracy to launder the proceeds of his criminal conduct.

Financial Reporting Orders require a convicted criminal to report their financial details at regular intervals. They can be made by a court, on the application of a prosecutor, for up to 20 years for those sentenced to life or a maximum of 15 years for other sentences.

The Court found that Mr Adams, whose ten year order expires in May 2017, had failed to report details of a financial account, payments to the account, and details of assets held.

SOCA spokesman said:

“Financial Reporting Orders are designed to make it more difficult for high level criminals to re-offend. SOCA will not tolerate breaches. Our policy of lifetime management means what it says.”

Ancillary orders such as Financial Reporting Orders, Serious Crime Prevention Orders, and Travel Restriction Orders are intended to be preventative rather than punitive measures to make re-offending more difficult. SOCA regularly publishes data on current orders to ensure breaches can be reported. Further information is available on our new approaches page.