THE Crown has made an application to recover £5.9 million of assets from a disgraced businessman.
Former boxing promoter Barry Hughes was the subject of a pre-proof confiscation order under the Proceeds of Crime Act at Glasgow Sheriff Court after he lied on mortgage applications for two houses.
Hughes, 38, fraudulently obtained more than £1.2m in loans to buy the properties in Bridge of Weir and Kilmacolm.
He was also convicted of money laundering after receiving £128,885 for the first property and spending £30,000 towards a Rolex watch.
Dean of the Faculty of Advocates Gordon Jackson, QC, told Sheriff Paul Crozier that the case could take up to six months if a proof hearing goes ahead next month.
He said the Crown believed that Hughes benefited by £5.9 million from the crimes.
Mr Jackson added his defence counsel would need to prove all the transactions were legitimate.
He said: “There are about 1,500 transactions for which evidence will require to be read, allowing 20 minutes per transaction one can begin to calculate. The estimation, I’m horrified to say to you, is over 150 court days.”
Hughes was not present at the hearing.
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