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-   -   Spotlight on an Early Retiree (http://www.early-retirement.org/forums/f29/spotlight-on-an-early-retiree-26263.html)

Eagle43 03-09-2007 07:37 AM

Spotlight on an Early Retiree
 
http://news.bbc.co.uk/1/hi/england/london/6434391.stm

Check this guy out....


Wealthy crime boss retired at 35
One of the UK's most notorious gangsters made so much money from crime he retired at the age of 35, the Old Bailey has been told.
Terry Adams, 52, from Barnet, north London, was worth about 11m but had no work history and was paying no tax or national insurance, the court heard.

Last month he pleaded guilty to conspiracy to launder his income from crime between 1997 and 2003.

Similar charges against his wife, Ruth, were dropped during the inquiry.

Andrew Mitchell QC outlined the prosecution case before Adams is sentenced
. . .
"By the early 1990s he had been so successful that he was able to retire, content that the wealth and status he had accumulated by the age of 35 would allow him and his family to live in the manner they were accustomed to for the rest of their lives."

He said they flew first class around the world, bought expensive jewellery and the couple's daughter was privately educated.

But at the time when Adams's wealth was estimated to be up to 11m he had no work history and was paying no tax or national insurance.

He later offered to settle with the Inland Revenue for 95,000 in 1996, at least three years after he retired.

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Wonder if he bought any Index Funds? ;D

REWahoo 03-09-2007 07:43 AM

Re: Spotlight on an Early Retiree
 
Quote:

Originally Posted by Eagle43
Wonder if he bought any Index Funds? ;D

...spoken with a British accent, "Fughetaboudit!"



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