What happened?
Terry Adams the purported North London ex-crime boss has been ordered to pay £700,000 debt to the taxpayer.
Mr Adams, 62 said that he was unable to make the six-figure payment, and said that various nights out only showed that his wife Ruth was spending lavishly.
However, three top Judges have today ruled that Mr Adams does have access to large sums of cash to which he had failed to explain the family’s income of source.
It has now been revealed that Mr Adams could now face four years in prison should he fail to pay back the £700,000 from an apparent confiscation order that was imposed in 2007.
In the hearing were, Lord Justice Longmore, Lord Justice Hamblen and Lord Justice Irwin who said that a series of payments and loans to Mrs Adams were “unexplained.”
They further added: “The source of all funds obtained and expended by Mrs Adams was of obvious importance but there was no or no satisfactory evidence of that source”, he said.
“Whilst it is correct that much of the evidence related to Mrs Adams rather than Mr Adams, they live and work together and, as the judge found, their financial affairs are ‘intertwined’.”
Mr Adams was in court with today’s ruling, and Mr Ivan Krolick for Mr Adams argued the point that Mr Justice Davies was wrong because Mrs Adams had incorrectly treated Mr Adams.
Mr Krolick said: “This was not luxurious living by Mr Adams. If it was luxurious, it was by Mrs Adams with her own money”
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