Property developer, convicted of fraud with properties on Crete, ordered to pay £569,000 back to victims
A property developer convicted of fraud has been ordered to pay back over £569,000, or face four more years in prison.
Ralph Christie, 56, was sentenced to seven years imprisonment in March 2015 for the five counts of fraud.
He had encouraged investors to invest in property developments in Greece, but some of that money was used to fund his luxury lifestyle.
Yesterday at Bradford Crown Court he was ordered to pay back a total of £569,990.64 to the complainants of the frauds for which he was convicted.
At the time of the court case he had a Ripon address, although police have today referred to him as being a Bradford man who had moved to Crete.
Ramona Senior – Head of the Economic Crime Unit at West Yorkshire Police, said: “This was a complex confiscation hearing under the Proceeds of Crime Act but the Financial Investigator worked tirelessly to recover money from Christie.
“At the centre of this were the victims who lost a lot of money because of the fraud.
“The impact on them in many cases was considerable and at least today we have secured money back from Christie.”
Christie now has three months to pay the money back or face an additional four years imprisonment in default of non-payment.
Ms Senior added: “The order made will be robustly enforced and if Christie fails to pay this order he will face a further four years in prison and the debt he owes to society will remain with him for life until paid in full.”