An accountant who stole more than £1.35m to live out a lavish lifestyle has been ordered to pay hundreds of thousands in compensation to the Bermudan government.
Lawyers from the Specialist Fraud Division of the CPS found that the Jeffrey Bevan, 51, had laundered more than 2,452,135 Bermudan dollars from the government over a two year period – meaning he had benefited to the sum of £1,742,044.
With the stolen funds, he bought racehorses, houses and flats, expensive cars, and gambled online. He then went on to defraud his own mother, persuading her to give him money that he said he would invest on her behalf and instead pocketing the £50,000 for himself.
Bevan pleaded guilty to 13 counts of money laundering after stealing funds from the Bermudan government between 2011 and 2013 and was sentenced to seven years and four months in prison on 16 February 2018. In November 2018 he was sentenced to a further 18 months for the theft from his mother.
Following an application to the court, a confiscation order was in place on Friday 5 July. The court has also ordered Bevan to pay over £688,000 in compensation to his former employer, the Bermudan government, and to pay money back to his mother’s estate.
Bevan must pay these funds back within three months, or face further time added onto his prison sentence.
Juliette Simms of the CPS, said: “Bevan wholly exploited his trusted position as an accountant to take money from a government body. Not content with taking taxpayers’ money, he also took money from his own mother, and spent the stolen funds ostentatiously on racehorses, luxury cars and gambling.
“The CPS has helped to secure the property obtained by Bevan’s criminal activity and will now be able to ensure these funds are returned to his family and for the benefit of the people of Bermuda.”