Hatton Garden mastermind did not benefit from raid, court hears

Jewellery recovered during the investigation into the burglary at the safe deposit centre in Hatton Garden, London - AFP

The criminal mastermind behind the Hatton Garden raid has insisted he did not make any money out of the heist.

Brian Reader, 78, claims the diamond burglary was a failure because he did not bring the right drill and fell out with other members of the gang.

The bizarre claims were made in a recent proceeds of crime hearing in which he fought an attempt to seize his £1 million mansion and two other homes as compensation for the raid.  

In an attempt to make him and his fellow convicted thieves reveal where their haul is, the authorities are threatening to jail them for an extra 14 years. It could mean some of the ailing gang dying in prison.

 Hatton Garden Safe Deposit Company Raid

Lawyers acting for the criminals told Woolwich Crown Court it could take years to establish what was actually stolen when the gang tunnelled into the vault in London’s jewellery quarter last year.

Only about £4 million worth of the estimated £25 million haul has been recovered.

Meanwhile, some of the wholesale jewellers have had sizeable payouts from their insurance companies.

Judge Christopher Kinch warned that a confiscation hearing due to take place in January next year is likely to be delayed due to the confusion over what was actually stolen.

“Some jewellery has been recovered. What is missing at this stage is how much or what quantity and value was not recovered,” he said, according to the Mail Online.

“The law requires the Crown to prove the value of benefit they have realised. I'm concerned about the valuation hearing and the length of time that takes.”

Attempts to document the value of assets owned by the more wealthy members of the gang have been hampered by their ill health.

Reader says his health has deteriorated since his incarceration Terry Perkins, 69, had a heart attack this summer. John Collins, 77, also spent much of this year in hospital.

Prosecutors told the hearing that a confiscation order could be made against members of the gang even if they did not benefit from the raid directly. Consequently, assets could be seized as form of compensation.