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| Version 1 | Version 2 |
|---|---|
| Wealthy crime boss retired at 35 | Wealthy crime boss retired at 35 |
| (40 minutes later) | |
| One of the UK's most notorious gangsters made so much money from crime he retired at the age of 35, the Old Bailey has been told. | One of the UK's most notorious gangsters made so much money from crime he retired at the age of 35, the Old Bailey has been told. |
| Terry Adams, 52, from Barnet, north London, was worth about £11m but had no work history and was paying no tax or national insurance, the court heard. | Terry Adams, 52, from Barnet, north London, was worth about £11m but had no work history and was paying no tax or national insurance, the court heard. |
| Last month he pleaded guilty to conspiracy to launder his income from crime between 1997 and 2003. | Last month he pleaded guilty to conspiracy to launder his income from crime between 1997 and 2003. |
| Similar charges against his wife, Ruth, were dropped during the inquiry. | Similar charges against his wife, Ruth, were dropped during the inquiry. |
| Andrew Mitchell QC outlined the prosecution case in advance of Adams being sentenced. | |
| He comes with a pedigree, as one of a family whose name had a currency all of its own in the underworld Andrew Mitchell QC | He comes with a pedigree, as one of a family whose name had a currency all of its own in the underworld Andrew Mitchell QC |
| "It is suggested that Terrence Adams was one of the country's most feared and revered organised criminals," Mr Mitchell said. | "It is suggested that Terrence Adams was one of the country's most feared and revered organised criminals," Mr Mitchell said. |
| "He comes with a pedigree, as one of a family whose name had a currency all of its own in the underworld." | "He comes with a pedigree, as one of a family whose name had a currency all of its own in the underworld." |
| He said Adams avoided conviction by "keeping away from the dirty end of the business". | He said Adams avoided conviction by "keeping away from the dirty end of the business". |
| "He lived a comfortable life with all the trappings of wealth and success," the prosecutor said. | "He lived a comfortable life with all the trappings of wealth and success," the prosecutor said. |
| Charges against Ruth Adams were dropped | Charges against Ruth Adams were dropped |
| "By the early 1990s he had been so successful that he was able to retire, content that the wealth and status he had accumulated by the age of 35 would allow him and his family to live in the manner they were accustomed to for the rest of their lives." | "By the early 1990s he had been so successful that he was able to retire, content that the wealth and status he had accumulated by the age of 35 would allow him and his family to live in the manner they were accustomed to for the rest of their lives." |
| He said they flew first class around the world, bought expensive jewellery and the couple's daughter was privately educated. | He said they flew first class around the world, bought expensive jewellery and the couple's daughter was privately educated. |
| But at the time when Adams's wealth was estimated to be up to £11m he had no work history and was paying no tax or national insurance. | But at the time when Adams's wealth was estimated to be up to £11m he had no work history and was paying no tax or national insurance. |
| He later offered to settle with the Inland Revenue for £95,000 in 1996, at least three years after he retired. | He later offered to settle with the Inland Revenue for £95,000 in 1996, at least three years after he retired. |
| MI5 listening operation | MI5 listening operation |
| From June 1997 to February 1999, an undercover listening operation was mounted by MI5 at his then home in Finchley. | From June 1997 to February 1999, an undercover listening operation was mounted by MI5 at his then home in Finchley. |
| It found Solly Nahome had been his financial "lieutenant". He portrayed Adams as legitimate, until Mr Nahome was murdered in 1998. | |
| The role was then taken up by his widow, Joanna Barnes, Adams' wife Ruth and an accountant. | |
| Barnes admitted one count of forgery involving a £15,000 loan agreement. | |
| She was fined £5,000 and ordered to pay £2,500 prosecution costs and £2,500 of the defence costs on Friday. | |
| Judge Pontius told her: "You are a woman of good character who foolishly, but deliberately and I think callously decided to forge your late husband's signature within weeks of his murder in 1998." | |
| Adams was charged in May 2003 but Mr Mitchell said he delayed the prosecution by changing his lawyers twice, claiming a listening device was in his sofa and seeing a psychiatrist about his mental health. | Adams was charged in May 2003 but Mr Mitchell said he delayed the prosecution by changing his lawyers twice, claiming a listening device was in his sofa and seeing a psychiatrist about his mental health. |