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Crime boss jailed for seven years | Crime boss jailed for seven years |
(30 minutes later) | |
One of the UK's most notorious gangsters has been jailed at the Old Bailey for seven years for money laundering offences. | One of the UK's most notorious gangsters has been jailed at the Old Bailey for seven years for money laundering offences. |
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. |
Adams was also ordered to pay £750,000 compensation for the £1m he laundered. | |
Similar charges against his wife, Ruth, were dropped during the inquiry. | Similar charges against his wife, Ruth, were dropped during the inquiry. |
'Cunning mind' | |
Adams, part of the Adams criminal family, made so much money from crime he was able to retire at 35, the Old Bailey heard today. | |
Sentencing him, Judge Timothy Pontius said: "Your plea demonstrates that you have a fertile, cunning and imaginative mind capable of sophisticated, complex and dishonest financial manipulation." | |
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 How family ruled underworld | 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 How family ruled underworld |
The prosecution accepted that he had not been involved in organised crime since 1993. | |
But he had placed illicit money with various people and used it to live a life of luxury. | |
Prosecutor Andrew Mitchell QC said: "It is suggested that Terrence Adams was one of the country's most feared and revered organised criminals. | |
"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." |
Charges against Ruth Adams were dropped | |
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. |
"By the early 1990s he had been so successful that he was able to retire." | |
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. |
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. |
Trial delayed | Trial delayed |
It found Solly Nahome had been his financial "lieutenant". He portrayed Adams as legitimate, until Mr Nahome was murdered in 1998. | 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. | 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. | 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. | 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." | 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. |