Guppy at risk in inquiry over pounds 2m
Guppy faces a maximum of a further seven years inside if he continues to keep silent about the location of assets estimated to be worth up to pounds 2m.
John Alexander, a senior insolvency practitioner with accountants Pannell Kerr Forster, was appointed Guppy's trustee in bankruptcy at the end of July.
He warned yesterday: 'Guppy might not have realised when he applied for bankruptcy that if he withholds information from me about his assets I can go to court. Anyone found guilty of withholding assets from creditors in a bankruptcy can get up to seven years in prison.'
Guppy, who was best man at Earl Spencer's wedding, was convicted in February 1993 of an insurance sting three years earlier, involving a staged jewellery robbery in New York. Together with an accomplice, Benedict Marsh, Guppy claimed pounds 1.8m from Lloyd's of London to cover jewels 'stolen' by another accomplice.
In April this year Guppy applied to the court for a reduction in his sentence, but although his fines were reduced, he failed to get his sentence cut, largely because he had not returned the money defrauded from Lloyd's. He has paid back barely pounds 20,000 to date, according to Mr Alexander.
In June, Guppy applied to be made bankrupt, a move that would release him from his debts after a three-year period. Lloyd's then nominated Mr Alexander to pursue his assets.
Mr Alexander said: 'There might be pounds 1m-pounds 2m around somewhere.'
- 1 Hair loss explained: How and why men go bald
- 2 Game of Thrones season 6: Jon Snow theorists believe the Stark may have a twin sister
- 3 Artist takes LSD, draws herself over different stages of the 9-hour trip to show its effects
- 4 A pint of water every day is the key to losing weight, scientists say
- 5 Russia 'accidentally reveals' number of its soldiers killed in eastern Ukraine
Most expensive city to live in for expatriates: Luanda, Angola takes number one spot with Hong Kong and Zurich in top three
If Surrey were Syria: Social experiment shows what it's like to live under siege
Video of Irish 'professional boxer' fighting Istanbul neighbourhood goes viral in Turkey
Irish tourist filmed fighting with shopkeepers in Turkey says they 'messed with the wrong man'
House of Lords: Outcry as donors, fixers and MPs caught up in expenses scandal get peerages
Dresden riots: Protesters in Germany attack refugee buses shouting 'foreigners out'
France train shooting: US soldiers speak of the moment they stopped gunman and 'beat him until he was unconscious'
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
Negotiable: Recruitment Genius: This company is the holding company of an expa...
£25000 - £30000 per annum: Recruitment Genius: Setup, configure, troubleshoot,...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...