A convicted fraudster has been required to sell a property after he was ordered to pay over £150,000 following an NCA financial investigation.

Frank Onyeachonam, 39, formerly of Rathbone Market, Canning Town, is currently serving an eight-year prison sentence after being found guilty of defrauding elderly and vulnerable people of large sums of money in a lottery scam.

At the Old Bailey, Her Honour Judge Poulet, ruled that Onyeachonam had benefitted by £1,169,439.74 in total and ordered that the whole of his remaining assets worth £158,149 must be paid to victims and he will be required to sell a property in Nigeria.

Onyeachonam previously lived in a luxury London apartment overlooking the River Thames where, in 2005, he began his international lottery scam targeting people named on “suckers lists”, which are traded between criminals to identify those likely to be susceptible to scams.

It was also found that he encouraged his victims to set up ‘legitimate’ businesses with accompanying bank accounts, which were then used to launder the proceeds of the fraud.

Garry Crone from the NCA’s Economic Crime Command said: “Onyeachonam previously enjoyed a lifestyle of champagne, designer clothes and fast cars.

“Those days are well behind him, and he can now add the loss of his illicit profits to the loss of his liberty,” said Garry.

“The NCA is determined to prevent criminals from benefitting financially from illegal activity, and we are pleased that in this case, victims will have money returned to them.”

If Onyeachonam fails to pay his Confiscation Order within 12 months he will face an additional three years in prison.