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£5m homes seized from ex-RUC man £5m homes seized from ex-RUC man
(10 minutes later)
A former RUC reservist has had 40 properties, thought to be worth an estimated £5m, confiscated by the Assets Recovery Agency. A former RUC reservist has had 40 properties, worth an estimated £5m, confiscated by the Assets Recovery Agency.
In an out of court settlement, Colin Armstrong from Guilford in County Antrim retains four properties. In an out of court settlement, Colin Armstrong from Tullynewbank Road, Glenavy, retains four properties, including a house in France.
These include a house in the south of France. He also keeps several cars, including a Porsche, and money in his bank account.
In a statement, Mr Armstrong said he settled the action on the basis there had been tax evasion and mortgage fraud by a third party. Mr Armstrong said he settled the action on the basis there had been tax evasion and mortgage fraud by a third party.
The properties were confiscated in Lurgan, Portadown and Guildford.
The Assets Recovery Agency has agreed to pay Mr Armstrong's legal costs which amount to £175,000.