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Crime boss jailed for seven years | Crime boss jailed for seven years |
(about 17 hours 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. | 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' | 'Cunning mind' |
Adams, believed to have been head of the Adams criminal family, made so much money from crime he was able to retire at 35, the Old Bailey heard. | Adams, believed to have been head of the Adams criminal family, made so much money from crime he was able to retire at 35, the Old Bailey heard. |
Sentencing him on Friday, Judge Timothy Pontius told him "you have a fertile, cunning and imaginative mind capable of sophisticated, complex and dishonest financial manipulation". | Sentencing him on Friday, Judge Timothy Pontius told him "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. | 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. | 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. | 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." |
He said Adams avoided conviction by "keeping away from the dirty end of the business" and by the early 1990s was so wealthy he was able to retire. | He said Adams avoided conviction by "keeping away from the dirty end of the business" and by the early 1990s was so wealthy he was able to retire. |
Adams and his wife flew first class around the world, bought expensive jewellery and the couple's daughter was privately educated. | Adams and his wife 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. |
Adams was charged in May 2003 but had delayed the court case for four years and changed his legal team three times. | Adams was charged in May 2003 but had delayed the court case for four years and changed his legal team three times. |
"It is obvious that the cost to the taxpayer overall has been colossal and, perhaps, unprecedented," the judge said. | "It is obvious that the cost to the taxpayer overall has been colossal and, perhaps, unprecedented," the judge said. |
Prosecution costs alone were about £4m, the court was told. | Prosecution costs alone were about £4m, the court was told. |
'British Godfather' | 'British Godfather' |
Legal costs were still being assessed and a hearing in May would decide how much Adams would be made to contribute. | Legal costs were still being assessed and a hearing in May would decide how much Adams would be made to contribute. |
The judge referred to publicity Adams and his family attracted - some of it referring to Adams as the British Godfather and British Al Capone. | The judge referred to publicity Adams and his family attracted - some of it referring to Adams as the British Godfather and British Al Capone. |
He said it was not up to him to judge its accuracy, only to sentence Adams on the one charge he had admitted. | He said it was not up to him to judge its accuracy, only to sentence Adams on the one charge he had admitted. |
Joanna Barnes, who is the widow of Adams' murdered financial "lieutenant" Solly Nahome, was fined £5,000 and told to pay £5,000 for forging her dead husband's signature to help Adams. | Joanna Barnes, who is the widow of Adams' murdered financial "lieutenant" Solly Nahome, was fined £5,000 and told to pay £5,000 for forging her dead husband's signature to help Adams. |