Weston-super-Mare drug dealer ordered to pay £114,000

A drug dealer from Weston-super-Mare purported to have made £1 million through crime has been told to pay up £114,486.

Stephen Waters was arrested in March 2009 following a police investigation into drugs supply in the town, Bristol Crown Court heard.

Just under five kilos of cannabis resin was seized during the operation, with a street value of almost £14,000.

Further offences were also identified involving mortgage fraud, with Waters applying for mortgages and falsely claiming his wife earned £120,000 a year.

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In September 2010, as part of a separate investigation by the South West Illegal Money Lending Team, Waters was also arrested for illegal money-lending activities.

In April 2011 Waters pleaded guilty to three counts of illegal money lending, and later pleaded guilty to supplying cannabis resin and dishonestly obtaining a mortgage advance by deception.

Waters was sentenced in September 2011 and jailed for 12 months, suspended for 24 months, in relation to the drugs.

He was jailed for six months, suspended for 24 months, in relation to the mortgage fraud and received a community sentence for illegal money lending.

On Friday Judge Michael Longman said Waters benefited by £73,000 under the Criminal Justice Act and by £1,070,397.40 under the Proceeds of Crime Act.

The judge ordered confiscation of Waters’ available assets of £114,486.04. If he does not pay the amount ordered he will face two years in prison and still have to pay the money.

Dr Kirstie Cogram, the manager of Avon and Somerset Financial Investigation Unit, said: “We are committed to seizing all assets that criminals have gained as a result of crime.

“It is not acceptable that criminals benefit from illegal activities and we will relentlessly pursue them through the courts to ensure their money is taken.

“By doing this we show criminals that they will not benefit from crime and deter others from entering a life of crime.”

Police say one in seven people know someone living off the proceeds of crime.