Jersey Mutual is soon to receive more than £650,000 back from two men who masterminded a multi-million fraud against the insurance company running over 13 years.
Former General Manager of the company Roy Anthony Jeanne and his associate Michael John Timms, who were jailed for nine years and four years respectively last year, benefited by around £4.5m from their crimes.
But with much of the ill-gotten gains having already been spent on luxury living – including, in Jeanne’s case, paying off a mortgage on a Spanish villa – authorities have since been battling to recuperate as many of their remaining assets as possible to return to Jersey Mutual.
“They are prevented from enjoying the criminal benefits they obtained”
This morning, it was confirmed that a joint initiative from Law Officers working with the police’s Financial Crimes Unit and the Viscount, had led to a confiscation totalling around a seventh of that sum: £656,193.
“The substantial confiscation orders made against these defendants ensure that they are prevented from enjoying the criminal benefits they obtained from this complex fraud and money laundering case,” Jersey’s Attorney General, Mark Temple KC, explained.
“The Law Officers’ Department’s Economic Crime and Confiscation Unit worked closely with the Joint Financial Crimes Unit of the States of Jersey Police and with the Viscount to ensure that the defendants’ realisable assets were identified, restrained and ultimately, fully confiscated.”
Operation Lavender
The sentencing of Jeanne and Timms followed a lengthy and complex financial crime investigation named ‘Operation Lavender’.
The criminal investigation was launched at Jersey Mutual in 2018 after a suspected fraud spanning years was uncovered.
Operation Lavender saw specialist financial investigators, supported by forensic accountants, investigating offending by Jeanne and Timms across a 13-year period.
Jeanne was charged with and pleaded guilty to three counts of larceny servant, falsification of accounts, money laundering and conspiracy to commit fraud which amounted to £3.3 million.
Timms was charged with and pleaded guilty to two counts of conspiracy to commit fraud.
Both were sentenced in January 2024 and a confiscation order was made in April 2024, with the latter process having now drawn to a close.
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Roy Anthony Jeanne (73) – who is currently serving a nine-year prison sentence for his crimes against Jersey Mutual – was this week ordered to pay £510,000 by the Royal Court. Meanwhile, his associate Michael John Timms (74) was ordered to pay £144,000. Jeanne held the top role at Jersey Mutual Insurance Society, whilst Timms…
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In the Royal Court today, Roy Anthony Jeanne (73) and Michael John Timms (74) were jailed for nine years and four years respectively. Jeanne was the former General Manager of Jersey Mutual Insurance Society, whilst Timms was a commercial tenant of the insurance company. As Jersey Mutual’s long-term supplier of marketing services, Timms helped Jeanne defraud…
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