Conman who raked in £4.7m for high living told to pay £650,000

John Hirst enjoyed a millionaire’s lifestyle in Mallorca, but a court heard yesterday that the 64-year-old fraudster could only pay back a fraction of the £4.7m he swindled from ex-pats and friends over an eight-year period.

Hirst, of Huddersfield Road, Brighouse, was the mastermind behind a so-called “Ponzi” scam and was jailed in August 2012 for nine years.

He was brought from custody to Bradford Crown Court yesterday for a final hearing under the Proceeds of Crime Act.

Judge Jonathan Durham Hall, who jailed Hirst, was told investigations by the Serious Fraud Office had led to an agreed figure of £4,717,042 that Hirst benefited from. But prosecutor Lisa Freeman confirmed he only had available assets worth £650,522.94.

Just under £200,000 is already held by investigators and the outstanding amount is made up of cash gifts to people and money in other accounts. Hirst also owns a speedboat worth about £20,000.

Judge Durham Hall agreed to make a formal compensation order totalling £650,522.94 which will be paid to investors on a pro rata basis. Hirst has been given six months to pay the sum and was warned he faced another four years in jail if the cash was not handed over.

Last year, Judge Durham Hall made compensation orders against Hirst’s estranged wife, Linda, and his accomplice in the fraud, Richard Pollett. The three compensation orders mean that out-of-pocket investors could get back about £1.5m.

Hirst and his wife enjoyed luxury holidays and lavish wedding celebrations in Las Vegas and Mallorca with some of their ill-gotten gains. During yesterday’s hearing it was suggested Hirst might have a further £221,000 in so-called ‘’hidden assets’’, but Miss Freeman said at this stage the money did not appear to be available for collection.