A gambler who lived a lavish lifestyle from an illegal betting operation for high rollers has been ordered to hand over £299,000 of his ill-gotten gains.
Leeds grandfather George Stott took bets from high stakes gamblers and either risked paying out winnings from his own pocket or laid off bets with genuine bookies.
Stott, 45, of Stonebrig Lane, Rothwell, lived a life of expensive cars and jewellery and exotic holidays.
In October last year, Stott was given a 12-month prison sentence, suspended for two years, after pleading guilty to converting criminal property and conspiring to convert criminal property.
He was also ordered to do 240 hours unpaid work.
Stott returned to Leeds Crown Court yesterday to face a confiscation hearing under the Proceeds of Crime Act.
Michael Smith, prosecuting, said Stott made a total of £411,000 from his criminal conduct.
The total amount of his available assets was £299,000.
Judge James Spencer QC ordered Stott to pay the amount within six months or face going to prison for three-and-a-half years.
When police raided his home in March 2011, they seized two Rolex watches and 15 solid gold Krugerrand coins worth £12,000, along with £4,300 cash. They will now be sold in order to raise the sum.
Stott only declared earnings of £33,600 to the Inland Revenue in six years between 2003 and 2009 and didn’t claim any benefits.
But investigators discovered that between 2003 and 2010, more than £227,000 was deposited in bank accounts in his name. Only £634 was withdrawn for day-to-day living expenses during the entire six-year period.
Stott’s lawyer Simon Batiste said records of his client’s gambling enterprise were lost when a safe was stolen from his home during a burglary.
The loss to the Inland Revenue was just over £14,000.