Title: “Bermuda’s Largest Financial Fraud Case: Ex-Accountant Jeffrey Bevan Faces Pension Seizure Hearing”

Background

• Former Welsh government and BBC accountant, Jeffrey Bevan, orchestrated one of Bermuda’s most significant financial fraud cases [1]
• Scheduled to face a hearing to determine if he will lose his UK pension [2]
• Currently serving a sentence for stealing nearly £2 million from the Bermuda government [3]

The Fraud

• Manipulated the government payment system in Bermuda (2011) [4]
• Made false transactions, channeling funds into his personal bank account [4]
• Used stolen cash to purchase luxury vehicles and real estate in the UK [5]
  • Two Mercedes Benz cars for £30,000 [5]
  • A property in Newport [5]
  • Two flats in Glasgow [5]
  • Six properties in Swansea [5]
  • Two units in Nottingham [5]

The Pension Hearing

• Hearing scheduled for 3rd February [6]
• Financial investigator failed to introduce Bevan’s £18,800 pension as an ‘available asset’ during initial confiscation proceedings [7]
• Bevan did not meet required age to receive the pension at that time [8] -Cardiff Crown Court estimated Bevan’s pension value at approximately £18,800 [8]

Penalty and Sentencing

-Total sentence: seven years and four months in jail [9] -Convicted on three counts of transferring criminal property and 10 counts of converting criminal property [9] -Additional 18-month prison sentence for stealing £50,000 from his mother [9]

Current Situation

-Bevan may still potentially gain from his pension despite his current circumstances [10] -A judge will assess the situation and decide if Bevan will forfeit his pension following the proceeds of crime hearing [11]