A fraudster who swindled over £28 million in leasing and mortgage scams now claims he has no assets left to confiscate.

Ex-financier Paul Cope, from Stafford, is currently serving a 64-month jail term for his crimes.

Under the Proceeds of Crime Act he is set to have his assets seized. However, he has told the court that he has no assets hidden and therefore nothing left to be confiscated.

During his initial fraud hearing at Stafford Crown Court, it was revealed that Cope’s agreed benefit from  a leasing fraud was £25,402,412, plus £2,081,028 from a separate mortgage fraud which involved his former luxury home in Barn Bank Lane.

It was also heard that Cope, who headed the Kingdom finance group, orchestrated the fraud schemes to con lenders into paying for non-existent hospital equipment through fake leasing agreements.

Two other Stafford men, Andrew Oxlade and Brian Challiner, have also been jailed for their part in the crime, the Express and Star reports.

Cope’s Barn Bank Lane home has already been repossessed, and James Fletcher, for the Crown, told the Proceeds of Crime hearing that £401,263 of Cope’s assets had been agreed but that Cope was disputing two further sums and that there could be some ‘hidden assets’.

Whilst he was on bail awaiting trial, Cope breached a restraining order on his financial affairs and was remanded in custody.

Mr Fletcher told Judge John Maxwell: “Is he the type of person who would seek to put assets out of the reach of the Crown or seek to hide these assets? It is up to Cope to persuade you that he doesn’t have any other assets.”

Cope has denied having any hidden assets.

Judge Maxwell has reserved judgement until next month.