Dodgy Businessman Ordered to Pay £264k or Face Prison After Fraud Convictions
A disreputable businessman has been commanded to pay £264,000.64 or confront a two-and-a-half-year prison sentence, following his conviction for a series of fraudulent activities. Richard Stubbs, aged 57, was previously incarcerated for five-and-a-half years in 2024 after being found guilty on multiple charges, including fraudulent trading, fraud, and intending to pervert the course of public justice.
Court Proceedings and Financial Orders
At Stoke-on-Trent Crown Court, Judge Graeme Smith determined that Stubbs benefited from his criminal conduct by £264,000.64. This amount must be settled by May 27, or Stubbs will serve an additional prison term of two-and-a-half years as a default penalty. The judge emphasized that the payable sum should reflect the total benefits derived from his illegal actions, stating, "I decided there were hidden assets. The payable amount will be the benefit figure."
Stubbs operated two businesses, I Design Kitchens and Bathrooms and Peak Kitchens and Bathrooms, both based in Staffordshire. His available assets are currently valued at £32,866.75, which includes football memorabilia worth £2,000 and a personal vehicle registration plate valued at £2,500. From the £264,000.64, a compensation figure of £151,624.85 will be allocated to his victims.
Legal Arguments and Victim Impact
During the hearing, Tony Watkin, representing the prosecution, applied for Stubbs to contribute £100,000 towards costs. However, Hugh Barton, defending Stubbs, argued against this, noting that Stubbs has lost significant assets and faces limited employment prospects. Barton stated, "My instructions are clear, and there is quite a bit of evidence to suggest he has lost everything. His house, if it has not been formally repossessed, must have negative equity. His opportunities to obtain employment are extremely limited."
Judge Smith permitted Stubbs to withdraw up to £350 weekly from any funds received until the next hearing on March 23 but declined to order the payment of costs, citing a substantial disparity between benefits and assets. The judge remarked, "I note a very significant shortfall between the benefits and the assets. It is not appropriate to order the payment of costs."
Stubbs was bailed pending a further hearing scheduled for March 23. Following his convictions, he has been banned from serving as a company director for ten years and is subject to a Criminal Behaviour Order for the same duration.
Impact on Victims
Stubbs was found guilty of defrauding customers through his kitchen and bathroom businesses. The repercussions of his actions were severe, with one victim attempting suicide and another couple experiencing marital breakdown due to the issues caused by his fraudulent schemes. This case highlights the devastating effects of financial crimes on individuals and families, underscoring the importance of legal accountability and victim compensation in such matters.
