Judge orders shamed financier to pay £400k

A businessman jailed for his part in a £28 million fraud has been ordered to repay more than £400,000.

Shamed financier Paul Cope's lavish lifestyle of expensive cars, including a Rolls-Royce, and a luxury home in Stafford was "all show" and came crashing down when he was found out as a fraudster, Birmingham Crown Court heard.

Cope, aged 46, currently serving 64 months' jail for leasing and mortgage frauds, had assets worth £406,263 confiscated under the Proceeds of Crime Act.

Judge John Maxwell branded Cope "thoroughly dishonest" and "a liar" but said that he was living largely "in a fantasy world".

The judge also ruled that although Cope probably had some money "salted away", it was only a modest amount and the best estimate was £5,000.