Defendants’ assets confiscated in a complex fraud and money laundering case

It has been reported that the Jersey Mutual is soon to receive more than £650,000 back from two men who masterminded a multi-million-dollar fraud against the insurance company, which ran over 13 years.

Former General Manager of the company, Roy Anthony Jeanne, and his associate, Michael John Timms, who were jailed for nine years and four years respectively last year, benefited by around £4.5 million from their crimes.

But with much of the ill-got gains having already been spent on luxury living – including, in Jeanne’s case, paying off a mortgage on a Spanish villa – authorities have since been battling to recuperate as many of their remaining assets as possible to return to Jersey Mutual.

Today, Sept 19 - it was confirmed that a joint initiative from Law Officers working with the police’s Financial Crimes Unit and the Viscount, had led to a confiscation totalling around a seventh of that sum: £656,193.

Jersey’s Attorney General, Mark Temple KC, explained.

• “The substantial confiscation orders made against these defendants ensure that they are prevented from enjoying the criminal benefits they obtained from this complex fraud and money laundering case,”
• “The Law Officers’ Department’s Economic Crime and Confiscation Unit worked closely with the Joint Financial Crimes Unit of the States of Jersey Police and
• with the Viscount to ensure that the defendants’ realisable assets were identified, restrained and ultimately, entirely confiscated.” 

Operation Lavender

The sentencing of Jeanne and Timms followed a lengthy and complex financial crime investigation named ‘Operation Lavender’.

The criminal investigation was launched at Jersey Mutual in 2018 after a suspected fraud spanning years was uncovered.

• https://www.bailiwickexpress.com/jsy/news/criminal-investigation-149-year-old-insurance-company/

Operation Lavender involved specialist financial investigators, supported by forensic accountants, who investigated offending by Jeanne and Timms over 13 years.

Jeanne was charged with and pleaded guilty to three counts of larceny by a servant, falsification of accounts, money laundering and conspiracy to commit fraud, which amounted to £3.3 million.

Timms was charged with and pleaded guilty to two counts of conspiracy to commit fraud.

Both were sentenced in January 2024, and a confiscation order was made in April 2024, with the latter process now having drawn to a close.

READ MORE…

• 2024 Jersey Mutual fraudsters slapped with confiscation orders totalling £650k https://www.bailiwickexpress.com/news/jeanne-and-timms-update/
• Roy Anthony Jeanne (73) – who is currently serving a nine-year prison sentence for his crimes against Jersey Mutual – was this week ordered to pay £510,000 by the Royal Court.
• Michael John Timms (74) was ordered to pay £144,000.
• Jeanne held the top role at Jersey Mutual Insurance Society, whilst Timms…
• 2024 Duo jailed for £3.3m insurance fraud attempt spanning 13 years https://www.bailiwickexpress.com/news/two-men-jailed-33m-fraud-attempt/
• Roy Anthony Jeanne (73) and Michael John Timms (74) were jailed for nine years and four years respectively.
• Jeanne was the former General Manager of Jersey Mutual Insurance Society, whilst Timms was a commercial tenant of the insurance company. As Jersey Mutual’s long-term supplier of marketing services, Timms helped Jeanne defraud…
• 2022 Fraud probe at Jersey Mutual still ongoing… four years on (2022) https://www.bailiwickexpress.com/jsy/news/fraud-investigation-jersey-mutual-still-ongoing-four-years/
• 2018 Criminal investigation at 149-year-old insurance company (2018) https://www.bailiwickexpress.com/jsy/news/criminal-investigation-149-year-old-insurance-company/

Source

https://www.bailiwickexpress.com/news/jersey-mutual-gets-just-seventh-of-stolen-4-5m-back-from-fraudsters/