DMZ can disclose that ‘The Wolf of Wimbledon’ has placed his half-built dream home in south London on the market for £3.75 million to help pay off the court ordered fine, which will go towards helping his victims.
Real-life Wolf of Wall Street fraudster Jeffrey Revell-Reade has been ordered to raise £10 million by the courts, or face another 10 years in jail after swindling investors of their life savings in a high level boiler room scam.
Plans approved by Merton Council show that the finished product would be a stunning 7,000 square foot, 6-bedroom mansion including a basement swimming pool, sauna and an enormous 60-foot garden.
Currently the property is in a sorry state, neglected and covered in scaffolding. Developers estimate the job will need at least another £1.5 million to complete to a reasonable standard, but estimate the home could be worth around £6.5 million after completion.
Anthony May, 60, of South Norwood was also convicted of conspiracy to defraud and given seven years in prison. A close friend and business partner, May allegedly raked in an eye-watering £69 million from the ponzi scheme.
Much like the real Wolf of Wall Street, May and Revell-Reade spent their ill-gained fortune on luxuries such a private jets, mansions around the world, private school fees and designer clothes.
DMZ abhors the shameful and dishonest nature of boiler room schemes, chiefly due to the fact that victims are typically amongst the most vulnerable in society.
However, one person’s mistake is another person’s opportunity.
Our DMZ-er developer friends wouldn’t have failed to notice that if bought for list price, developed and sold for the estimate there’s a possible £1.25 million gross profit to be made from the property, excluding the usual taxes. If you do end up making a deal on the home, let us know and we can get some ‘after’ pictures.