Paul Seakens from Enfield has paid compensation to his 222 victims after he faced a further seven years in jail. He was sentenced in 2021 to 13 years in prison for fraudulent trading and converting criminal property.

The scam involved selling ‘worthless investments’ through Enviro Associates where Seakens was a director.

The total amount stolen by Seakens and his accomplice Luke Ryan was £3,371,059. The investments being sold to the victims were carbon offset products which did not see any return at all, not even the original investment amount.

The Crown Prosecution Service (CPS) said that some of the victims had to re-mortgage and sell their homes, and others had to delay their retirement.

Of the 222 victims, over 200 of them have received compensation payments on average of £4,675, with the largest payment being £38,482. Unfortunately, 28 of the victims had died before payments proceeded and so were paid to family members.

Seakens was taken back to court so a confiscation order could be issued under the Proceeds of Crime Act 2002. This gives the criminal an option to either forfeit money and assets attained during the period of the crime being committed or face more years in prison.

Portia Ragnauth, specialist prosecutor from the Crown Prosecution Service, said: ‘Paul Seakens did untold damage to the lives of his victims, some of whom were old and frail. We have made sure that he has paid his £1m order in full following the sale of his pensions, a Rolex watch, along with money in a bank account from one of his fraudulent businesses, which has now been distributed to his victims. 

‘He will continue to be monitored in case any new assets can be identified that would allow us to apply to the court to increase the value of his confiscation order.’