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</noscript> </div> <p class= »imageCaption »>Freddy David swindled nearly £15million from investors</p></div><p class= »mol-para-with-font »>A disgraced financier and former Tory councillor’s husband, who swindled nearly £15million from investors, has been ordered to pay back £1.3m or face another eight years in jail.</p><p class= »mol-para-with-font »>Freddy David, who is married to two-time MP hopeful, Hannah David, used his good reputation within the Jewish community as managing director of HBFS Wealth Management to sell non-existent opportunities to his clients, a court was told.</p><p class= »mol-para-with-font »>The 51-year-old, from Hertfordshire, stole £14,545,594 from a total of 55 clients over ten years and was jailed for six years for fraud in July 2018.</p><p class= »mol-para-with-font »>He used part of an £80,000 investment from one victim to feed his gambling addiction and pay his children’s private school fees, while he also set up a restaurant called Let’s Meat and enjoyed trips to Greece and Israel.</p><p class= »mol-para-with-font »>David returned to Southwark Crown Court today for a confiscation hearing in which the prosecution probed his assets in a bid to claw back the missing millions.</p><p class= »mol-para-with-font »>The total loss to victims was £6,998,942.17 but the sum David was ordered to pay back had to be ‘realistic.'</p><p class= »mol-para-with-font »>Judge Deborah Taylor expressed concern over the issue of dividing mortgages and the court heard Hannah David, who is now divorcing him, had no knowledge of his wrongdoing.</p><p class= »mol-para-with-font »>Judge Taylor said: ‘I’m concerned with how to deal with the issue of dividing mortgages, bearing in mind their increase in value since they were bought.'</p><div><div data-track-module= »am-related_carousel^related_carousel » data-track-selector= ».rotator-panels a:not([class*=external]) » data-dm-rotator-rotate= »false » data-track-pos= »static » data-preferred-shared-network-enabled= » » data-dm-rotator-auto-init= » » id= »p-20″ class= »related-carousel with-fb-or-tw news half » data-dm-rotator-active-class= »active » data-dm-rotator-page-count= »1.0″ data-dm-social-article-auto-init= » » data-dm-rotator-page-size= »1″> <div class= »rotator bdrcc »> <div class= »rotator-title »> <h2>RELATED ARTICLES</h2> <ul class= »rotator-pages link-xocc »> <li class= »rotator-prev »>Previous
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</div> </div><p class= »mol-para-with-font »>The judge ruled today the fraudster must return £1,340,111 over a period of three months or serve eight years imprisonment in default.</p><p class= »mol-para-with-font »>She added: ‘The free property identified as tainted gifts falls to be included in the available amount.
The total available amount is £1,340,111.</p><p class= »mol-para-with-font »>’A confiscation order in the sum of £1,340,111 will be made to be paid within three months.</p><p class= »mol-para-with-font »>’The application is for compensation in the sum of £6,998,942.17 in favour of victims of this fraud representing the loss to them.</p><div class= »artSplitter mol-img-group » style= »style »> <div class= »mol-img »> <div class= »image-wrap »> </div> <noscript>
</noscript> </div> <p class= »imageCaption »>Boris Johnson on the campaign stump with Hannah David, who the court heard had no knowledge of her husband’s wrongdoing</p></div><p class= »mol-para-with-font »>’However, a compensation order may only be made in a sum that is realistic.
I therefore make a compensation order in the sum of £1,340,111 to be paid to the investor’s pro rata.'</p><p class= »mol-para-with-font »>Hannah David, 50, was a Conservative councillor in Hertsmere but stood down from the council to run as the party’s Parliamentary candidate for Harrow West in 2015 and 2017.</p><p class= »mol-para-with-font »>Giving evidence during the confiscation hearing she insisted she had ‘virtually zero’ knowledge of financial matters.</p><p class= »mol-para-with-font »>’Since we’ve been together my view was he had more experience with finance and banking.
I didn’t.</p><p class= »mol-para-with-font »>’I dealt with the family, home and looking after the children, et cetera.'</p><p class= »mol-para-with-font »>Asked if she had any questions about what her husband was doing to raise money she replied: ‘None at all.'</p><p class= »mol-para-with-font »>Ms David stood for the Conservative Party in Harrow West in 2015 but narrowly lost to Labour’s incumbent Gareth Thomas.</p><p class= »mol-para-with-font »>She ran again in 2017, securing 34.4% of votes.</p><p class= »mol-para-with-font »>David, formerly of Hartfield Avenue, Borehamwood, admitted one count of fraud by abuse of position and one count of obtaining a money transfer by deception.</p><p class= »mol-para-with-font »>He was ordered to pay £1,340,111 in compensation or serve eight years in default.</p></div>
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