LONDON, June 24 A jailed ticket fraudster was
sentenced to another six years on Tuesday after ignoring a
British court order to pay 1.25 million pounds ($2.13 million)
for failing to deliver tickets to events such as the 2008
London-based Terence Shepherd, the director behind online
tickets operation Xclusive, was sentenced to eight years in July
2011 for fraudulent trading, money laundering and acting as a
company director whilst disqualified.
Xclusive "sold" but failed to supply thousands of tickets
worth millions of pounds for major events including the Beijing
Olympics and music festivals during the summer of 2008. Xclusive
then collapsed, leaving more than 10,000 people without
Britain's Serious Fraud Office (SFO) said Shepherd, 55, had
been ordered to pay a confiscation order of 1.25 million pounds,
of which just over 1 million was supposed to have compensated
victims. If he failed to pay within six months, he would face
another six years in jail in default of payment, he was told.
He nevertheless only paid around 100,000 pounds and now owes
more than 1.267 million pounds, including 120,000 in interest,
which is accruing at a daily rate of 251 pounds, the SFO said.
"You have culpably neglected or wilfully refused to pay ...
this sum and I am not in a position to grant a further
adjournment," said Judge Tan Ikram at London's Westminster
Shepherd will serve the sentence after his current sentence
unless the confiscation order and all interest is paid in full.
($1 = 0.5880 British Pounds)
(Reporting by Kirstin Ridley; Editing by Mark Heinrich)