‘Riviera Ray’, 55 year old Raymond Woolley, has been told he faces having to pay back £9.5 million for his part in one of the UK’s biggest VAT frauds or face more time in prison.
Raymond Woolley was sentenced to 9 years’ imprisonment in 2002 for his involvement in the £38 million ‘carousel fraud’ involving mobile phones.
He managed to escape from Sudbury Prison in 2005 and was found in Switzerland in 2008 from where the RCPO (Revenue and Customs Prosecution Office) managed to secure his extradition.
The RCPO has applied to have him serve an additional four years for failing to pay back £9.5 million which was the subject of a confiscation order back in 2006.
Lawyers have claimed that this is now more than £12 million due to interest accrued.
Woolley faces serving the additional 4 years in unless he pays the millions back.