Brian O’Brien, 61, who was extradited from Chicago, Illinois, USA, was originally jailed for eight years in April 2012 for his involvement in a £4 million fraud after the investment business he controlled with his partner, Secure Trade & Title Company Ltd, based in East Sussex, caused some investors to lose thousands of pounds.
It was also added by the SFO that some investors may have to sell their homes as a result of the deception perpetrated on them.
In April 2013 it was found that O’Brien had benefited from over £9 million from his criminal conduct and was ordered to pay £364,938.53 in confiscation or face a further four years imprisonment, but he failed to pay anything towards the order.
District Judge Roscoe, who imposed the extra four-year sentence, said there had been “no evidence of any attempt to pay” either sums making up the tainted gifts or hidden assets aspects of the confiscation order indicating “culpable neglect” on O’Brien’s part.
O’Brien was one of five co-conspirators and was convicted of conspiracy to defraud, attempting to obtain a money transfer by deception, transferring criminal property, contempt of court and hampering an investigation.
A boiler room is essentially a call centre, concerned with selling shares on behalf of companies.
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