RegulationSep 1 2017

Financial adviser jailed over cocaine operation

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Financial adviser jailed over cocaine operation

Defendant Steven Craig Budgen, aged 35, is said to have financed the purchase of a mini bus by another man so it could be used as a cover for drugs supply.

He was jailed for three-and-a-half years at Mold Crown Court.

It was described as a personal tragedy for him.

The court heard the conviction at trial last week would mean that he would lose everything he had worked so hard to achieve since he was a teenager.

An investigation under The Proceeds of Crime Act will now take place to see how much, if any, of his ill-gotten gains can be seized.

Budgen, of Aberconwy Road in Prestatyn, denied being concerned in the supply of cocaine but was convicted by a jury last week.

He was told by Judge Niclas Parry: “For no other reason that sheer greed, and a desire to make what you considered to be utterly easy and significant money, you were prepared to risk everything.”

Budgen, he said, had a successful career and a good family life.

“You became involved in what I am satisfied in a fairly significant business involving regular sale of class A drugs to numerous customers,” said Judge Parry.

You have built a successful career starting literally from the bottom of the ladder and become a successful financial adviser – an achievement in your career which you have now utterly ruined.Judge Niclas Parry

It was considered an indication of the extent of the business that when his business partner in the venture was stopped, on one occasion, he was carrying cocaine with a value in excess of £4,000.

Judge Parry said Budgen had no regard for the misery and harm that his profiteering would cause.

The judge told Budgen: “You of all people being addicted to cocaine should have been aware of that.

“You were the money behind this.”

He had provided the finance to source the drugs, he knew where to source them, and was prepared to go to significant personal expense  - some £30,000 – to fund a vehicle for his co-defendant Paul Williams.

That was a vehicle used “as a cover” to sell drugs.

Judge Parry said that he accepted that Budgen did not sell cocaine himself and that Williams did that “under the cover of being a taxi driver”.

The sale of the drugs could not have happened without Budgen’s role, he said.

Judge Parry said it was a significant role, which had gone on for some 17 months.

“You have built a successful career starting literally from the bottom of the ladder and become a successful financial adviser – an achievement in your career which you have now utterly ruined.”

The evidence showed that he had realised the fact he was putting the life he had built up in jeopardy and made efforts to withdraw from the venture.

But by then the harm had already been caused and the profit made.

The judge said that he took into account that it was a personal tragedy for him and the effect of his imprisonment on his totally innocent family.

He had been dependent on cocaine himself and his consideration was often drugs and not money, the court heard.

Defending barrister Duncan Bould said that the conviction was a personal tragedy. He had built up a very successful career and worked his way up to achieve a great deal for the benefit of himself and his family.

“There is little doubt that he is an incredibly hard working and resourceful man who has achieved much in his given work,” he explained.

Prosecuting barrister Karl Scholz told how a mini bus driven by Paul Williams was stopped on the A55 in April 2016 as a result of intelligence.

More than £4,000 worth of cocaine was discovered along with a dealer’s list and his phones revealed text messages with Budgen discussing setting up the joint venture.

Williams, 52, of Fern Avenue in Prestatyn, was due to be sentenced today (1 September) but his case was adjourned and he was remanded in custody in the meantime.

David Malcolm Glenister, 45, of Berwyn Crescent in Prestatyn, who had previously pleaded guilty to being involved in cocaine supply on the basis that he ran “Williams’ shop” while he was away for two weeks, received an 18 month prison sentence suspended for two years, with 300 hours unpaid work.

The judge told him that he did it in return for the use of Williams’ property “because you foolishly wanted to impress a lady half your age” and to whom he had supplied drugs.

Judge Parry said Glenister was helping himself “to the sweets from the shop” – the cocaine.

He worked on Williams’ behalf – selling drugs and collecting money for him, on one occasions much as £600.

Defending barrister Simon Killeen, for Glenister, said that his position was entirely different to the others, he was involved for two weeks, he had admitted it at an early stage, and he was the prime carer for this father.