A former IFA sentenced to a decade prison for running a £3.5m Ponzi scheme has had his jail term extended by a further two years.
Phillip Boakes was handed the additional time after failing to satisfy the full value of a £166,000 confiscation order. Boakes has failed to pay the full amount and as of 15 March interest of £36 a day is accruing, the Financial Conduct Authority said. Director of enforcement and market oversight Mark Steward said: "Wrongdoers should not be able to retain the benefits of their wrongdoing. "The FCA will continue to ensure orders to strip wrongdoers of their ill-gotten gains are enforced and not ignored or evaded." Boakes was sentenced to ten years' in prison in March last year...
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