Two financial advisers serving prison time for their roles in a £3m property scam have been ordered to pay back just £1 each.
In October, Andrew Jelley, 39, and Joseph Nunn, 43, were jailed for six-and-a-half-years each for duping investors, promising returns of 10% to 15% a year through a property scheme.
However, the pair were using some of the money to fund their gambling habits and were unable to make interest payments on the investments, the Littlehampton Gazette reports.
Portsmouth Crown Court heard they no longer had any money or assets to confiscate and only £80,000 of the money invested has ever been recovered.
Instead, they were ordered to pay back £1 each and slapped with orders meaning their future money or assets will be be used to pay the debt.
Jelly and Nunn had traded under the name of AJ Corporate Services, a former appointed representative of Sesame, targeting 24 victims from across southern England.
Many of them first found out they had been conned when repossession orders arrived for their heavily-remortgaged properties, with one homeowner losing £440,000.
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
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Alongside Barrett, Boston, Hopkins and Thorman on 17 October