A convicted fraudster has been sentenced to an additional four years in prison by Westminster Magistrates’ Court after failing to make any payments towards a £364,000 fine, following an investigation by the Serious Fraud Office.
In April 2012, US national Brian O’Brien was extradited and convicted for his part in a £4m boiler room fraud. He was sentenced to eight years’ imprisonment.
A year later he was ordered to pay £364,938.53 in compensation to victims of his scam, but District Judge Roscoe found there was “no evidence of any attempt to pay”. Roscoe says this was “culpable neglect” on the part of O’Brien.
O’Brien and his partner Lynne D’Albertson ran Secure Trade & Title Company from Sussex. The firm ran share pushing operations based in Spain and Ireland and claimed to protect prospective shareholders.
In reality most of the funds to be invested were siphoned away by the fraudsters.
O’Brien was convicted of conspiracy to defraud, attempting to obtain a money transfer by deception, transferring criminal property, contempt of court and hampering an investigation through concealment, destruction, disposal of documents.