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Multimillion-pound venture capital fraudster before Court of Appeal

An entrepreneur found to have masterminded a multi-million pound venture capital fraud is scheduled to mount arguments in the Court of Appeal - four years after being jailed.

Edward Davenport's name features in lists of cases at the Court of Appeal in London today.

He was given a term of seven years and eight months in 2011 by a judge at Southwark Crown Court after being convicted of conspiracy to defraud.

Davenport - who was prosecuted by the Serious Fraud Office (SFO) - was behind an "advanced fee fraud" scheme which resulted in scores of businesses being ripped off, jurors heard.

Prosecutors said he set up a company and pretended it was a respectable business with 50 years' experience of sourcing huge commercial loans. But they said the company was "essentially worthless" and its only business was "fraud".

The SFO said Davenport was subsequently made the subject of "confiscation and compensation" orders after being pursued by the organisation's proceeds of crime division.

In May, the SFO said it had recovered £13 million from Davenport to "satisfy" confiscation and compensation orders.

Officials said he had raised cash by selling a 24-bedroom mansion at 33 Portland Place in Marylebone, London.

An SFO spokesman said the appeal hearing related to a confiscation order.

Three appeal judges - Lord Justice Davis, Mrs Justice Lang and Mrs Justice Patterson - are due to hear arguments lawyers representing Davenport.

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