Imperial Consolidated director jailed for fraud

A former director of £250 million investment group Imperial Consolidated has been sentenced to three and half years imprisonment for conspiracy to defraud at Blackfriars Crown Court.

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by Iain Martin on Aug 05, 2010 at 15:28

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Imperial Consolidated director jailed for fraud

A former director of £250 million investment group Imperial Consolidated has been sentenced to three-and-a-half years imprisonment for conspiracy to defraud at Blackfriars Crown Court.

Imperial Consolidated Group director William Godley was jailed after he pleaded guilty to his involvement in the ponzi scheme which left 3,500 investors out of pocket. Imperial Consolidated Group promised high returns to overseas lenders through commercial lending but was loss-making and insolvent, according to the Serious Fraud Office.

Justice Gloster warned Godley that he would have been given a seven-year sentence for a ‘very serious fraud’ had he not entered a early guilty plea. ‘On any basis this is a very serious fraud in which substantial sums of money have been lost by investors, many of whom have suffered considerable hardship,’ she said.

Godley has been disqualified from acting as a company director for six years and confiscation proceedings have been adjourned. Two other directors of Imperial Consolidated, Jared Brook and Lincoln Julian Fraser, were acquitted following a retrial which concluded on 28 June.

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7 comments so far. Why not have your say?

That's more like it.

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But for the amount of grief he will have caused, why didn't he get 15 years - or in any case the maximum possible ?

What about repayments ?

As this article stands, he comes out in less than two years to enjoy an absolute fortune.

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To escape so lightly is a crime in itself. What the hell is up with the justice system that lets a company leave so many people financially strapped, and has caused untold hardship to so many others escape proper justice. I hope all their assets will be confiscated, but what's the bet that loads of stuff will be in wives names and therefore untouchable.

Fraud of this nature should be very harshly dealt with. These "guilty" people will come out of jail, (no doubt an easy one, not hard labour by any means,) and will enjoy their ill gotten gains that they have hidden away for many years to come.

Disgraceful.

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UNbelievable that he should get away so lightly. Was the judge on a backhander?

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Absolutely, So much fraud about but the Justice system condones much of it. 25 years at least.

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What on earth makes people buy into a company called "Imperial Consolidated"? If I wanted to wrap a cloak of respectability around a ponzi scheme or a similar fraud would you call it "Small fraudulent company about to steal your money plc" or "Gigantic Megacorp Guaranteed to make you rich?"

Lord - people are so dumb....

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francis ho wendy

Aug 06, 2010 at 15:23

Who is that american guy who got 250 years jail. The same should go for this guy godley

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