A retired insurance company manager who siphoned off more than £1m from clients to live a luxury lifestyle with his Thai bride has been ordered to pay back £308,000 of his ill-gotten gains.
Terry Thackrah, 60, was jailed for six years in 2010 after admitting two charges of converting criminal property between 2003 and 2009.
Thackrah, originally from Wakefield, lived in a four-bedroom villa in Cyprus, drove luxury cars with personalised number plates and sent his children to private school during the six-year deception.
Thackrah earned £337,000 a year as a client relief manager for Royal Bank of Scotland but was able to fund a lifestyle way beyond his means after exploiting a “loophole” in the company’s payments system.
He diverted commission which was supposed to be paid to the clients – some of them high street names including Swinton and Abbey National – into bogus accounts which he set up.
He was eventually arrested by officers from West Yorkshire Police when he was about to leave Stansted Airport with his Thai wife, Jarawadee, for his home in Northern Cyprus.
He had been in the UK for one of his regular trips to see his family in Wakefield.
Leeds Crown Court heard yesterday that, in total, Thackrah benefited to the tune of £1,110,495 from his deception.
Christopher Aspinall, prosecuting, said the total amount recoverable from Thackrah’s assets was £308,000.
Judge Roger Ibbotson made an order under the Proceeds of Crime Act that Thackrah must pay the sum within 12 months or face a further three years and three months being added to his sentence.
After the hearing, Det Con Fiona Crossley, of West Yorkshire Police, said: “These offences were committed over a significant period of time. Thackrah’s motivation was pure greed.”