Jailed lottery fraudster Edward Putnam is poised to receive a £350,000 windfall behind bars after the sale of his home near the M25.
Putnam, who forged a winning ticket to steal £2.5million in 2009, has paid back only £94,000 of a confiscation order totalling £939,000.
His home was seized when he refused to return the money and has now sold at auction for £1.2million, despite it being a wreck with a hole in the roof.
The Mirror reports that there are fears Putman could pocket more than £355,000 after settling his debt, although the courts can increase the value of the confiscation order.
Before it was auctioned, the property was valued at £700,000, but experts have told the same publication the land next to the house appealed to developers.
James Ashworth, of Landwood Property Auctions, told the Mirror: “The property exceeded our expectations with more than one bid per second.
“The competition generated was fantastic and it will be interesting to see what the buyer does with it.”
The sale comes after firefighters were called to the property in Kings Langley, Hertfordshire, on October 17 last year. Police investigated whether the blaze was started deliberately.
Putman, 57, was sentenced to nine years in 2019 for his role in the lotto fraud which he concocted with Camelot employee Giles Knibbs from the company’s fraud detection unit.
The former bricklayer submitted a fake ticket made by Knibbs, claiming he found it in his van days before the six-month time limit to claim.
He was caught when Knibbs took his own life in 2015 after confessing to his family. Police launched an investigation after notes detailing the fraud were found.
The police probe closed when Camelot was unable to locate the ticket, but it reopened in 2017 when it was found.
A hearing at St Albans Crown Court in January last year heard Putman had benefitted by £2,525,495. Judge Philip Grey ordered him to repay £939,782.44.
The Crown Prosecution Service said in a statement: “In any given case, if there is a surplus following the sale of assets, we will always review the Confiscation Order and, where appropriate, apply to increase the order, until the full criminal benefit has been repaid.”
Putman was previously jailed for seven years in 1993 for raping a pregnant 17-year-old girl.
