Businessman jailed over towering debt

Businessman jailed over towering debt



A businessman has been ordered back to prison after he failed to repay his debts….


A businessman has been ordered back to prison after he failed to repay his debts.

Phing Woon Pun, 52, pictured, of Silk Street, Ipswich was ordered to pay back £683,370 in 2011 after he was jailed for six years for gaining the money illegally.

However, Pun, who made thousands of pounds from illegal business dealing linked to two Chinese restaurants in Ipswich, only managed to pay back £246,511 by the deadline. Therefore, two weeks ago he was sentenced to a further 726 days in prison.

The court heard that the debt had grown by £107,970, meaning that Pun still owed £544,829.

As a result, a decision was made by the Eastern Region Special Operations Unit (ERSOU) Asset Confiscation Enforcement to team up with the CPS to recover the funds.

Detective Constable Nick Bentley said: "This should serve as a message to those with confiscation orders that they shall be pursued through the enforcement process if full payment is not made.

"Interest will be charged on your debt and you face being sent back to prison if you do not pay in time. People should also be under no illusion, the confiscation order will stay with you until every penny is paid back – regardless of whether you serve a default sentence - and we will regularly revisit each case until it has been.

"Early compliance is always strongly recommended and communication with the court and or the CPS can assist any individual with a Proceeds of Crime Act confiscation order made against them.”

Specialist Prosecutor Ousman F M’Bai added: "This action demonstrates the commitment by CPS Proceeds of Crime to require criminals pay back the benefit from their crime.

"Working closely with the police, every effort is being done to recover what Mr Pun has hidden away. Mr Pun’s imprisonment serves as a warning to others that failure to pay is met with harsh consequences which do not remove the obligation to pay. We can and will continue to deprive Mr Pun of his criminal gains.”

Kim Tai Wong, 51, wife of Pun who was also involved in the crime involving the Temptation Chinese Buffet in Carr Street Ipswich and Lucky Star Takeaway in Hawthorn Drive, Ipswich, has paid back her £109,747, while his son Yung Fatt Pun, 33, has also repaid his debts of £5,012.

 



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