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IN THE CROWN COURT INDICTMENT
AT CAERNARFON TRIAL NO.
STATEMENT OF INFORMATION RELEVANT IN
ACCORDANCE WITH SECTION 16 (6)
OF THE PROCEEDS OF CRIME ACT 2002
REGINA
Vv
HUGHIE NOEL THOMAS
STATEMENT DETAILS
Prepared and tendered by : Michael Francis MATTHEWS
Address : Post Office Ltd Investigation
Team
PO Box1
Croydon
CR9 1N
Signature
Date : 22 February 2007
Prosecutor : Juliet MCFARLANE
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Address : Principle Lawyer
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Criminal Law Team
Royal Mail Group pic
6A Ecclestone Street
London
SW1W 9LT
Statement of Information
I, Michael Francis Matthews a financial investigator currently
employed by Post Office Ltd, am accredited under Part 2 and Part
8 of the Proceeds of Crime Act 2002. This statement of information
is further to the statement of information prepared by me and
tendered by Juliet McFarlane, Solicitor in this matter, in
accordance with Section 16(3) of the Proceeds of Crime Act 2002.
I say as follows:-
I am duly authorised to make this statement of information on
behalf of the prosecutor, who is The Solicitor to Royal Mail Group
Plc, Criminal Law Team and who has conduct of the proceedings
in this matter. I make this statement of information in accordance
with Section 16 (6) of the Proceeds of Crime Act 2002.
Hughie Noel Thomas is the defendant in this matter
Extent of Benefit
Particular Criminal Conduct
Paragraph 7.4 of the previous statement detailed that £28,519.76
had been paid to the defendant in remuneration during the material
time. It should be noted that the defendant would have been liable
to pay Income Tax on this sum. National Insurance contributions
however, would have been made at source prior to payment to the
defendant.
Available Amount
Roger Harris of Humberstones Business Agents, as he was
instructed to sell the business and property for Mr Thomas. The
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conversation was to the effect that he could not remember exactly
the valuation but thought that he valued it at £180,000. The price
was based on the business and the physical property but he did
not value each part separately but as a complete going concern.
He was pressed on the value and he said that £60,000 was
reasonable price for the business and £120,000 for the building.
He based his valuation on paying no more or less than twice
remuneration at £28,000 plus a bit extra for the retail business.
Mr Harris did not think he could put his views in writing, as he did
not believe his professional indemnity would allow him. He
concluded by adding that the sale of the Gaerwen Post Office had
progress quite a way, with a buyer and as such the exact figures of
the value of the business and property should be in the sale
contract drafted by Mr Thomas' solicitor.
Nevertheless I am in receipt of information in respect of the value
of Gaerwen Post Office. The property was valued around
September 2005 by a surveyor who is a Bachelor of Science and a
Member of the Royal Institute of Chartered Surveyors. His
valuation was a s follows:
e Bearing in mind what we consider to be all the relevant
factors we are of the opinion that the current Freehold Market
Value of the property as a fully operational trading entity and
including trade fixtures and fittings, is reasonably expressed
in the sum of £185,000 (One Hundred and Eighty Five
Thousand Pounds).
e The valuation figure reported above is based on the
property's trading potential. In the event that the property
was closed or not open to trade or if the accounts or record
of trade were not available, the inventory has been removed,
if any licences, consents certificates or permits were lost or in
jeopardy or if the property were vandalised, then the values
herein may be reduced to take account of the circumstances
pertaining at such time. Should this be the case we would
estimate the value to be in the sum of £145,000 (One
Hundred and Forty Five Thousand Pounds).
e The anticipated market rental value of the property subject to
standard commercial terms is estimated to be in the order of
£10,150 (Ten thousand One Hundred and Fifty Pounds).
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e The market value of the premises as fully operational trading
entity subject to a 90 day completion period is reasonably
expressed in the sum of £157,000 (One Hundred and Fifty
Seven Thousand Pounds)
The Nationwide House Price calculator states that a property
located in Wales, which was valued at £145,000 in Q4 of 2005,
would be worth approximately £157,866 in Q4 of 2006. This is
equivalent to a change of 8.87%
The prosecution is of the view that the property Gaerwen Post
Office was undersold in September 2006 by approximately
£57,000 and that Mr Thomas would have known that he was
underselling the property as the exact values would have been in
the contracts of sale drawn up by his solicitors around June to
September 2005.
If Defendant does not accept this valuation then onus is on him to
provide the Court with a full valuation (carried out by a professional
valuer) for the property.
Paragraph 9.5 of previous statement detailed an occupational
pension with Royal Mail Group held by the defendant in the sum of
£476.89 gross per month. The Trustees have made none of the
pension fund available for confiscation.