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Last Updated: Tuesday, 27 January, 2004, 12:46 GMT
Conman fails to cut victim payout
John Palmer
John Palmer was convicted in May 2001 of conspiracy to defraud
Timeshare fraudster John "Goldfinger" Palmer has failed in an attempt to slash the 2.3m compensation he was ordered to pay his victims.

The Court of Appeal in London rejected his claim that the amount was too much, and said it must be paid in full.

Palmer's estimated 17,000 victims paid around 30m between them for shares in holiday apartments which were often overpriced or did not exist at all.

Palmer, in his 50s and from Bath, was jailed in May 2001 for eight years.

His legal team had told the appeal judges he had already repaid around 10m to victims, but this was rejected by the Crown as "by no means reliable".

His team also claimed many victims were still making use of the time shares they bought in holiday apartments in Tenerife.

They had asked for the compensation order to be reduced by between 600,000 and 800,000.

Appeal bid refused

The judges added Palmer had agreed the amount of compensation before the order was made, and it was not open to him to have "another bite of the cherry".

Lord Justice Rose, Mr Justice Poole and Mr Justice Davis also refused Palmer permission to re-open an earlier appeal against his jail sentence.

They ordered him to pay 7,889 prosecution costs.

Palmer lost an original appeal against his sentence at the Court of Appeal in November 2002.

However, last year he succeeded in overturning an order confiscating 33m of his reputed 270m assets - on the basis that there had been crucial flaws in the procedure followed.

On Tuesday the appeal court judges said he had been "fortunate indeed" to escape having to pay that much money.

Palmer was dubbed Goldfinger after being acquitted of handling gold from the 1983 Brinks-Mat robbery.

Home Office eyes conman's 33m
24 May 03  |  Somerset
The fraud king of Tenerife
23 Apr 02  |  UK News

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