Search

Former Clerkenwell gang boss Terry Adams loses battle to keep crime proceeds

12:01 12 August 2014

Pic shows Terry Adams, at the Old Bailey. Copwright Central News

Pic shows Terry Adams, at the Old Bailey. Copwright Central News

Archant

The head of a notorious Clerkenwell crime family has failed in an attempt to have hundreds of thousands of pounds of debt written off.

Terry Adams, 58, was one of Britain’s most feared gangsters – but is now listed as “head designer” at fashion label N1 Angel.

He was ordered to pay £750,000 after pleading guilty to money laundering in 2007 but had asked to have the remaining balance of £653,947.74 reduced, claiming it was more than the sum of his assets.

However, a judge threw out the appeal on Monday due to evidence that Adams was still enjoying a lavish lifestyle of luxury hotels and private cosmetic procedures.

Nick Price, head of proceeds of crime at the Crown Prosecution Service (CPS), said: “Through a series of nefarious means, Terry Adams has consistently sought to hide the proceeds of his crimes.

“However, today’s judgment is proof of our determination to see that crime doesn’t pay and that those who seek to hide their wealth will be challenged and held to account.

“Mr Adams argued that he couldn’t afford to pay what he owed and yet his lavish lifestyle showed this was not the case.

Adams claimed he and his wife were living on expenses of £200 per week, paying rent of £250 and living on £23,000 to £24,000 a year.

But the court heard he and his wife still managed trips to the Royal Opera House, expensive meals out, spa memberships at luxurious hotels, high cost dental treatments and other treatments at private clinics.

In 2011 Adams was returned to prison for breaching a financial reporting order with a £7,500 facelift and expensive jewellery.

His fashion label, N1 Angel – which is run by his wife – is set to appear at London Fashion Week next month.

Should he fail to pay the balance of the confiscation order, Adams could face a further four years in prison.

Mr Price said: “I’m pleased that, presented with our carefully gathered evidence, the judge has decided that Mr Adams does, in fact, have the ability to pay and has assets that he has not put before the court. We will now work hard to ensure that Mr Adams pays his confiscation order.”

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Islington Gazette visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Islington Gazette staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Islington Gazette account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Latest Islington News Stories

Yesterday, 14:45

A 69-year-old man with stage 3 cancer has claimed he was “shoved in a corner” of A&E for 16 hours after being rushed to hospital with open wounds.

Yesterday, 09:12

Ten people whose homes were devastated by the Upper Street flooding at the start of December are still living out of a hotel.

Yesterday, 08:45

Staff at a Holloway care home were forced to clean a resident with washing up liquid because of the management’s obsession with cutting costs, a damning new report has claimed.

Yesterday, 07:00

“County lines” drug dealing could be the next grooming scandal if the government doesn’t step in to help protect vulnerable youngsters.

Wed, 17:41

A Barnsbury woman who made bullets in munitions factories during the war celebrated her 100th birthday on Sunday.

Wed, 14:29

Trailblazing students from Islington descended on the Emirates Stadium to get grips with the latest in computer science.

Wed, 14:16

Roman Way Industrial Estate is one place where ‘dry January’ is not welcome – it’s home to Islington’s only brewery. Hammerton has only been going for three years, but the Gazette finds it already has international reach.

Wed, 09:48

Islington Council has made yet another data gaffe – by leaking personal information of 559 ex-employees to its own former leader.

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now

Newsletter Sign Up

Most read news

Digital Edition

cover

Enjoy the
Islington Gazette
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now