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| 'Lord' Edward Davenport: millionaire fraudster forced to sell his 'sex party' mansion to avoid jail | |
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| It has starred in an Oscar-winning film and hosted celebrities and “porn-disco” sex parties. Now the central London mansion of convicted fraudster “Lord” Edward Davenport is in the spotlight again – to demonstrate that fraud does not pay. | |
| The self-styled “Lord” Edward was forced to sell the 24-bed property, used in the film The King’s Speech, to repay court asset-confiscation and compensation orders and avoid a further 10-year jail sentence, the Serious Fraud Office (SFO) has announced. | The self-styled “Lord” Edward was forced to sell the 24-bed property, used in the film The King’s Speech, to repay court asset-confiscation and compensation orders and avoid a further 10-year jail sentence, the Serious Fraud Office (SFO) has announced. |
| Davenport, convicted and sentenced for his role in a multimillion-pound advanced-fee fraud in 2011, has satisfied £13m worth of his confiscation and compensation orders, the SFO said. | Davenport, convicted and sentenced for his role in a multimillion-pound advanced-fee fraud in 2011, has satisfied £13m worth of his confiscation and compensation orders, the SFO said. |
| Fellow fraudster Virendra Rastogi, convicted and sentenced in 2008 for a financial trading fraud, also paid £5.4m towards a £20m confiscation order through the sale of his central London home. Unlike Davenport, who was freed on health grounds, Rastogi is serving a further seven years for failure to pay the full sum. | Fellow fraudster Virendra Rastogi, convicted and sentenced in 2008 for a financial trading fraud, also paid £5.4m towards a £20m confiscation order through the sale of his central London home. Unlike Davenport, who was freed on health grounds, Rastogi is serving a further seven years for failure to pay the full sum. |
| Mark Thompson, at the SFO, said: “Criminals should not be able to benefit from the fruits of their crimes and the sale of the properties should serve as a timely warning to those considering committing fraud that their assets, including family homes, are not protected and remain liable to confiscation.” | Mark Thompson, at the SFO, said: “Criminals should not be able to benefit from the fruits of their crimes and the sale of the properties should serve as a timely warning to those considering committing fraud that their assets, including family homes, are not protected and remain liable to confiscation.” |