EMERY: CONMAN HAS TO PAY BACK £154,412

A fraudster involved in a £60 million ‘Wolf of Wall Street’ share scam has been ordered to pay back £154,412 within six months or face a further two and a half years in prison.

Jon Emery, 36, was one of a team of six conmen who set up an elaborate scheme in Madrid to sell worthless shares to British investors.

The scheme was the brainchild of Australian Jeffery Revell-Reade, 49, and Anthony May, 48, who spent the cash on a champagne lifestyle including private jets and yachts.  

They recruited Emery, Daniel Gooding, 39, and Gooding’s sister Emma Farmer, 40, to reel in clients through a hard-sell, cold-calling techniques.  

Gooding, Farmer, and Emery, along with Ian Hughes, 33, Philip Morris, 38, and Shaun Rumsey, 33, telephoned potential buyers in the UK to trick them into investing into worthless companies.  

Revell-Reade and May created ‘sales entities’ – companies set up for limited periods of time selling high volumes of their shares.  

The gang sold blocks of worthless US-registered ‘S’ securities belonging to shell companies no longer listed on the stock exchange

Earlier prosecutor Stuart Trimmer QC said: ‘Daniel Gooding, Shaun Rumsey, Jon Emery, Philip Morris, Ian Hughes, and Emma Farmer all participated in the conspiracy and performed various functions within these three entities – Tresderns and Partners SL, Prince Stone Group SL, and Anderson McCormack SL.’

‘Those three entities sold shares by way of the false representations which consisted, not only of what was said to investors, but also what was withheld from them.’

The operation ran from March 2003 and August 2007 – was deliberately set up in Madrid to be outside the immediate control of UK authorities and the Financial Service Authority.     

Coleman, Farmer and Gooding, all of (6) Oaklands Park, Hutton, Brentwood, Essex, Emery, of (8) Birch Road, Romford, Essex, Hughes, of (47) Pen-y-Lan Road, Cardiff, Morris, of (10) Shuttle Close, Biddenden, Ashford, Kent and Rumsey, of (19) Ash Grove, Dunmow, Essex, were all convicted of conspiring to defraud investors by dishonestly making, causing or permitting false representations between March 2003 and August 2007.

The fraudsters were jailed for a total of 29 years in June and ordered to pay back a slice of their profits.

Gooding was jailed for seven years, while Rumsey, Emery and Morris received five years each.

Hughes was jailed for four years, while Farmer, a mother of two young children, received three years in prison.  

Revell-Reade was jailed for nine years and six months, while May received seven years and six months.

A third man, solicitor John Manning, 65, was acquitted of conspiracy to defraud.  

Last week, Ian Hughes was ordered to pay back £8,000 within six months or face five months in prison.
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