Bermuda theft: Accountant faces losing pension for £1.7m theft

Jeffrey Bevan was sentenced to seven years and four months in jail in 2018, and served half his sentence

An accountant who stole £1.7m from the Bermudan government is facing losing his pension as attempts to claw back money he took continue.

Jeffrey Bevan made more than 50 fake payments to himself after moving with his family to work as a payment manager for Bermuda's accountant general.

The 55-year-old, from Cwmbran, Torfaen, spent the cash on cars and properties and gambled away £500,000.

He was jailed in 2018 for seven years and four months.

The following year a proceeds of crime hearing ruled he had more than £650,000 to hand back.

Having served half his sentence Bevan was released from prison this week but returned to court as prosecutors sought to recoup more money from him.

It is understood they are seeking funds from Bevan's pension now he is 55.

Cardiff Crown Court heard Bevan, who has also worked for the BBC and Welsh government, believed it "unjust" to revisit the sum owed but the prosecution want another hearing.

Tim Evans, prosecuting, said: "In emails Mr Bevan set out his position simply and robustly.

"He indicated that he had been in contact with solicitors and his position is it would be unjust to add to or to revisit the possession of assets."

Bevan moved to Bermuda for the £80,000 a job in 2011.

During two years there, he fraudulently transferred nearly 2.5m Bermudan dollars (£1.7m) from the Bermudan government to his own accounts. He covered this up by using the names of other organisations.

Cash transferred from the government account was used to buy two Mercedes Benz cars for £30,000, a property in Newport, two flats in Glasgow, six properties in Swansea and two units in Nottingham. Mr and Mrs Bevan's £140,000 mortgage was also paid off.

Bevan initially denied the laundering, but changed his plea after the first day of his trial in 2018, admitting three counts of transferring criminal property and 10 counts of converting criminal property.

He received a further 18-month prison sentence in November last year for stealing £50,000 from his own mother.

He was ordered to pay £33,333.34 in compensation to his brother Jason Bevan.