The amount of the increased confiscation represents money currently held in a Santander bank account under Wilson’s name.
The bulk of the balance in the account is a result of a £31,825.18 inheritance payment he received upon the death of his mother who worked for the Waitrose supermarket chain.
He received the sum as one of three beneficiaries named by her.
Seven years jail
In February 2014, Wilson was sentenced to seven years in prison for defrauding investors out of more than £21m using a fictitious investment firm called SureInvestment – a Ponzi-style scheme used to fund his extravagant lifestyle.
At the time of Wilson’s sentencing a nominal confiscation order of £1 was made against him as it was determined that he had no further funds due to bankruptcy and civil proceedings costs.
Confiscation order reconsidered
However, in late 2015 the FCA was informed of the death of Wilson’s mother.
Enquiries revealed that she had died without making a will and that Wilson was likely to have an interest in her estate as a result. Further enquiries also revealed that he had received the payment from the John Lewis Partnership representing death benefits due to him from his late mother’s pension scheme.
On 26 November 2015 the FCA obtained a restraint order against Wilson to preserve the value of the assets while the prosecutor reconsidered the value of the confiscation order.
Mark Steward, executive director of enforcement and market oversight at the FCA said: “Wilson’s activities defrauded over 300 victims and today’s outcome sends a clear message that crime does not pay. The FCA will continue to take steps to ensure that assets are confiscated from those who benefit from their criminal conduct, including seeking increased confiscation orders, where appropriate.”