The Serious Fraud Office (SFO) has secured a £928,479 confiscation order against convicted fraudster David Kennedy, with the funds set to be returned to victims of a £100m-plus investment fraud.
At a hearing at Southwark Crown Court, a judge ruled that the money, identified as proceeds of crime, should be recovered and distributed to victims affected by the scheme. SFO investigators found that Kennedy used funds obtained through fraud to finance an extensive personal lifestyle, including properties in Hull, a villa in Tenerife, savings held in a Spanish bank account, a pension fund and several luxury vehicles. Kennedy is currently serving an eight-year prison sentence after being convicted of fraudulent trading in June 2024. The case centred on the Axiom Legal Financing Fund,...
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