Home   Tunbridge Wells   News   Article

Lamberhurst drug dealer's £20,000 sports car and quad bike to be sold at auction

A drug dealer's £20,000 sports car will be sold after he was jailed.

Cosmo Budd, 25, was sentenced to three years and nine months imprisonment in December after money laundering and supplying cocaine.

Cosmo Budd's BMW Convertible will be sold at auction. Picture: Kent Police
Cosmo Budd's BMW Convertible will be sold at auction. Picture: Kent Police

He was arrested at a property he was renting in Bartley Mill Road, Lamberhurst, where the class A drug, with a street value of £3,000, was found, as well as £1,385 in cash.

After police reviewed Budd's personal and financial records they discovered he had earned more than £160,000 from his criminal activity, of which £28,824 was recoverable through cash, money in his bank account and the sale of a BMW convertible, personalised number plate and quad bike.

A confiscation order was obtained by the force at Maidstone Crown Court last Thursday.

Any further assets officers discover can also be subject to confiscation proceedings until the earnings from his crimes are paid back.

Detective Inspector Helen Smithers of the Kent and Essex Serious Crime Directorate said: "Cosmo Budd and other criminals like him may enjoy spending their illegal earnings on sports cars and designer clothing but we will not hesitate to strip them of their assets whilst they are spending a less luxurious lifestyle behind bars.

Cosmo Budd has been jailed
Cosmo Budd has been jailed

"Our financial investigators leave no stone unturned when reviewing a criminal’s personal wealth, ensuring they cannot continue to reap the rewards of their crimes after they have been released from prison.

"We will continue to use the legislation afforded to us under the Proceeds of Crime Act to drive home the message that crime does not pay.’"

Assets recovered under the Proceeds of Crime Act are distributed to operational agencies including Kent Police under the Asset Recovery Incentivisation Scheme (ARIS).

Recovered assets are divided between operational agencies and the Home Office which are then reinvested into policing.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More