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Ex-Co-op Boss Repays Stolen Funds from Victim
22 Feb
Summary
- Former Co-op Bank boss returned £185,000 of stolen money.
- He avoided an additional two-and-a-half years in prison.
- The funds were stolen from an elderly victim with Alzheimer's.
Former Co-op Bank chairman Paul Flowers has repaid £185,000 he defrauded from an elderly spinster with Alzheimer's. This action allows him to avoid an additional two-and-a-half years in prison. Flowers, nicknamed the 'Crystal Methodist,' was originally sentenced to three years in February of last year for plundering his friend Margaret Jarvis' estate.
He used the stolen funds to finance a lifestyle that included drugs, wine, luxury holidays, and theatre trips. Flowers also held power of attorney over Miss Jarvis' affairs. As her dementia worsened, he issued himself cheques and redirected her pension payments.
In September, a court ordered the return of £184,462 to victims. The Crown Prosecution Service confirmed the payment has been made in full to HM Courts And Tribunal Service. However, the money has not yet reached Miss Jarvis' family or the charities she left bequests to.
This delay is because Flowers remains the sole executor of Miss Jarvis' will. Her family is reportedly finding it difficult to locate him within the prison system to obtain his signature on required legal documents. A relative expressed frustration, stating it feels like 'banging my head against a brick wall.'
