London Colney man to pay compensation for motorcycle scam
VICTIMS of a bike scam, who bought the vehicles in good faith, are to receive compensation from the man who sold them. Gary Smith, 38, of Hardwicke Place, London Colney, was ordered to pay �42,400 under the Proceeds of Crime Act following a confiscation h
VICTIMS of a bike scam, who bought the vehicles in good faith, are to receive compensation from the man who sold them.
Gary Smith, 38, of Hardwicke Place, London Colney, was ordered to pay �42,400 under the Proceeds of Crime Act following a confiscation hearing at Luton Crown Court on Friday.
He was told he had to pay over �7,500 in compensation to the people who bought the bikes in good faith as well.
In September 2008, Smith pleaded guilty to one count of possessing criminal property, two counts of handling stolen goods and three counts of fraud. He was sentenced to 39 weeks imprisonment, suspended for two years, and ordered to carry out unpaid work for 250 hours.
If he fails to pay the confiscation order or the compensation to the victims within six months, he will be sent to prison for 18 months.
During May 2005 and November 2007, Smith received stolen motorcycles, changed their appearance and then sold them on at a business address in Stevenage. Among the high performance bikes which came into his possession were a Honda CBR 600, BMW R1150 and a Suzuki SV 650.
He was arrested by police in November 2007 after a customer, who unwittingly purchased a bike, discovered that it had been stolen.
The large confiscation order represents the amount that Smith is estimated to have benefited from his actions. Once received, a percentage of the order will be given back to police to help fight crime.
DS Chas Moore, of the Eastern Area Money Laundering Unit, said: "Nobody should benefit from crime and I am satisfied that Smith has been ordered to pay more than �40,000 for his offences. His actions meant a number of people, who thought they were buying a motorcycle in good faith, were actually getting stolen property."
He added: "If you know somebody who is benefiting from crime, then let us take action by calling 0845 33 00 222 or Crimestoppers, an independent charity, anonymously on 0800 555 111. Your call could earn a cash reward.