On Friday two High Court judges rejected Woolley's judicial review to have the confiscation order thrown out. The confiscation order was originally for £9.5m from a carousel fraud which cheated HMRC out of £38m.
Woolley was jailed for nine years in 2002 after being found guilty of conspiracy to cheat the public revenue. In 2005 he escaped from an open prison and fled to Switzerland, but was extradited back to the UK after four years on the run.
In June 2009 the court was told that the enforcement receiver had recovered £288k, now that number seems to have dropped to £195k (possibly after fees have been taken).
Would you serve two years in prison or hand over £12m? It doesn't seem much of a choice really.