Gerald Smith, who once owned Jersey-registered company ORB, was jailed in the UK for eight years in 2006 after committing a £35 million fraud. Among the other payments he is alleged to have made are £111,000 to a St John agricultural business and £111,000 and £179,000 to two Jersey doctors.
When he was sentenced, he was handed a confiscation order of £41 million, which he claims he is unable to pay. This subsequently rose to £73 million after remaining unpaid and accruing interest. However, following a recent English High Court ruling this has now been reduced after prosecutors accepted that he would fall £30 million short of the sum.
In trying to obtain some of the money, the UK’s Serious Fraud Office has drawn up a schedule of what they claim are assets obtained by Mr Smith and payments made by him through allegedly linked accounts.
The fraudster must now provide a response to each of the entries the SFO claims he has purportedly involved himself with on the list.
These include alleged payments to Jacksons for a Bentley Continental worth £95,029, as well as a Porsche Panamera and a V8 Aston Martin collectively worth £174,794. A Mercedes-Benz SLR and an A180 of the same brand sold by Jacksons for £263,995 together are also referenced. It also lists an alleged £60,029 payment to an individual for the registration number ‘J88’.
Three payments totalling £111,000 are also listed as allegedly being made to Ernie Le Feuvre Ltd for garden machinery, as well as a combined total of £179,921 to Dr Guy Wildy and Dr D G Hughes within the ‘Island Medical Partnership’.
Dr Smith’s ex-wife, Dr Gail Cochrane, who is bankrupt and has claims totalling £305 million against her, works at the Island Medical Centre.
Elsewhere in the SFO schedule, the agency claims that £359,000 was spent on chandeliers crafted by renowned glass sculptor Dale Chihuly, £375,000 on wine between July 2014 and May 2015 and 1.24 million euros on a house in Mallorca.
It also details payments allegedly made by Dr Cochrane from a Jersey-based Lloyds account totalling £207,210 and makes reference to four other accounts they claim she allegedly has access to in Switzerland.
As well as being asked to account for a number of payments the SFO alleges to have been made, Dr Smith has also been asked to give explanations as to who is funding his lifestyle, who is paying his legal team and the whereabouts of a Porsche 911 Targa 4S. The SFO claim the vehicle was abandoned in a London car park last year before allegedly being collected by an unknown person.