Financial adviser ordered to pay back £230,000

Ex-accountant John Michael Prescott.
Ex-accountant John Michael Prescott.
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A BENT accountant jailed for fraud and theft has been ordered by a court to repay a total of £230,000 to his victims.

John Michael Prescott, 62, who owns business property in Morecambe, is currently serving a four-year sentence for fraud and theft.

He paid back £30,000 during the investigation, so he was ordered to pay £200,179.84 in compensation to two of his victims.

This amount covers the total he stole from them, plus interest.

He has six months to repay the total sum or he faces an additional two years eight months on his current prison sentence.

Prescott, of Manor House Drive, Skelmersdale, who worked as J M Prescott and Co in Warrington and in a family practice in Morecambe, was arrested on May 7, 2009, after a 56-year-old woman from Windermere contacted police when Prescott, who was employed as her accountant, defrauded her of £100,000.

See The Visitor (03-08-11) for full story.